Advent, Stripe Abandon $50 Billion Pursuit of Fintech Pioneer PayPal

The payments company, once the crown jewel of American ​financial technology, received a $60.50-per-share ⁠bid from ‌Stripe and private equity firm ​Advent ​International, which valued it at ⁠more than $53 billion, Reuters reported in July, ​citing sources.

A consortium of buyout firm Advent and payment processor Stripe has decided to abandon its pursuit of fintech pioneer PayPal Holdings Inc., a potential deal that would have ranked as one of the biggest-ever leveraged buyouts, according to people familiar with the matter.