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Stripe and Advent reportedly gave up on acquiring PayPal, and their bargain-hunting plans were disrupted by a 40% increase
Tech

Stripe and Advent reportedly gave up on acquiring PayPal, and their bargain-hunting plans were disrupted by a 40% increase

The acquisition of Stripe and Advent, which might have set one of the best leveraged buyout records in history, has been stalled, according to Bloomberg. PayPal's stock price rose by 40% in response to the financial report and acquisition rumors, which made this plan of picking up a bargain at a low price a miscalculation.

EA Buyout Officially Closes: PIF Now Holds 93% Stake, Company Saddled With $20 Billion in New Debt
Tech

EA Buyout Officially Closes: PIF Now Holds 93% Stake, Company Saddled With $20 Billion in New Debt

The $55 billion acquisition led by Saudi Arabia's Public Investment Fund officially closed this Tuesday, with PIF taking over 93% of EA's shares. Andrew Wilson stays on as CEO, but the company now has to shoulder $20 billion in financing debt.