PayPal shares tumble on report Advent-Stripe consortium drops buyout bid - Reuters

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PayPal shares experienced a significant decline, falling as much as 16% in premarket trading on Friday. This plunge followed reports from Bloomberg and Reuters indicating that a consortium consisting of Stripe and Advent International has abandoned its pursuit of the company. The potential buyout bid, which was valued at approximately $53 billion, has been dropped by the consortium, leading to the immediate negative reaction in the market for PayPal stock prices.