Advent International and Stripe Abandon $50 Billion PayPal Bid

A consortium consisting of Advent International and Stripe has abandoned its pursuit to acquire PayPal Holdings Inc. in a deal that would have exceeded $50 billion, potentially marking one of the largest leveraged buyouts in history. The collapse of the negotiations removed a primary catalyst for a recent stock rally that had seen PayPal shares gain over 40 percent this quarter. Following the news, PayPal shares fell as much as 14 percent in after-hours trading on the Blue Ocean platform, eventually settling at a 12.7 percent decline to $53.66.

Separately, Greenlight Capital identified PayPal as a turnaround opportunity in its second-quarter 2026 investor letter. The firm acquired a position at an average price of $43.53, asserting that the company's payment assets are worth significantly more than the 8x earnings multiple paid.

PayPal has struggled to modernize its technology against competitors such as Apple Inc. and Alphabet Inc. Under CEO Enrique Lores, who took over in March, the company is implementing new financial goals and revenue targets to improve its competitive position. While the current takeover effort has ended, reports indicate the consortium may return with a new proposal if market conditions change. Representatives for Advent, PayPal, and Stripe declined to comment on the failed negotiations.