Midday Need to Know: Treasury yields jump, Stripe abandons PayPal & more (SPY:NYSEARCA)

Midday Need to Know: Treasury yields jump, Stripe abandons PayPal & more (SPY:NYSEARCA)

Wall Street drifts after Fed Chair Warsh’s Jackson Hole speech lifts Treasury yields and hike odds; plus PayPal deal news and Apple TV price hike.

Stripe’s Attempted Takeover of PayPal Has Collapsed—Again

Two weeks after reviving negotiations that ended when PayPal rejected a $53 billion offer, Stripe and its private-equity partner are walking away from what could have been a record fintech acquisition.

PayPal board rejected $53bn — stock falls 16% as Stripe and Advent walk away

A $53 billion takeover bid for PayPal collapsed after the company's board declined to engage with the price. The exit of Stripe and Advent leaves CEO Enrique Lores alone with a turnaround that, for now, the market says he has yet to earn.

Stripe Advent End Paypal Pursuit

Why it matters: It would have been the largest fintech acquisition ever. By the numbers: PayPal shares closed Thursday at $61.47, above the $60.50 per share offered by Stripe and Advent. Catch up quick: Stripe last week agreed to pay $8 billion for AI model marketplace OpenRouter, but a source said that the OpenRouter and […] Källa