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PayPal Stock Dives; Advent-Stripe Group Said To Drop Pursuit Of Payments Giant

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PayPal stock plunged Friday on a report that an Advent-Stripe consortium has dropped their efforts to buy the digital payments giant. Privately held payments firm Stripe and private equity firm Advent had given up their pursuit of PayPal (PYPL), Bloomberg reported Thursday night, citing sources. The group reportedly bid $60.50 a share, or $53 billion, for PayPal in mid-July. PayPal’s…

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