Economy / Markets
PayPal drops 12.7 percent as Stripe-Advent consortium walks away from a $53 billion approach
PayPal closed Friday down 12.71% at $53.66 after Reuters reported that a consortium led by Stripe and private equity firm Advent ended its pursuit of the payments company. The abandoned $60.50-per-share indication had implied roughly a 12.7% premium, leaving standalone execution and 5% revenue growth as the main supports for the stock.