PayPal will not be pursuing an acquisition, Semafor reported, citing individuals accustomed to the matter.
Earlier this week, Bloomberg reported that Stripe expressed curiosity in shopping for some or all of PayPal Holdings, which incorporates the flagship product PayPal and its providers, in addition to different firms like Venmo. Stripe declined to touch upon the information.
However unnamed sources inform Semafor that the corporate has been working with bankers in preparation for a doable activist investor marketing campaign or a hostile takeover. The bankers had been working with Alex Chriss, PayPal’s now-ousted CEO, the outlet reported. The corporate’s new CEO begins subsequent week, PayPal has said.
PayPal didn’t reply to TechCrunch’s request for remark.
