MarketPR
The collapse of a $53 billion acquisition bid sent PayPal Holdings (NASDAQ: PYPL) down 12.71% on Friday to close at $53.66, unwinding the premium investors had built in since the deal first surfaced.
Bloomberg, citing people familiar with the matter, reported that Advent International and Stripe officially dropped the offer, which had been priced at $60.50 per share, a 27.7% premium to PayPal's $47.37 close before the news broke.
The two parties had planned to take equal ownership of the company if the transaction had proceeded.
The numbers behind the setup With the deal off, investors are back to evaluating PayPal on its own throughput and cost discipline.
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