Advent International and Stripe abandon $50 billion pursuit of PayPal, Bloomberg reports

A consortium comprising buyout firm Advent International and payments processor Stripe has reportedly ended its discussions regarding a potential takeover of PayPal Holdings. The group had previously offered over $50 billion for PayPal, in what could have been one of the largest leveraged buyouts. The speculation surrounding a takeover, alongside stronger-than-expected second-quarter earnings, had contributed to a more than 40% rise in PayPal's stock this quarter.