TradingKey – On August 28, PayPal (PYPL) shares plummeted by approximately 17% in pre-market trading following reports that a consortium formed by Advent International and payment giant Stripe had abandoned its acquisition of PayPal.

Source: TradingView

Previously, the consortium had proposed an acquisition offer exceeding $50 billion, with market reports indicating a bid of approximately $53 billion. Had the deal been finalized, it could have been one of the largest leveraged buyout transactions in history.

According to Bloomberg, people familiar with the matter revealed that Advent and Stripe have withdrawn from acquisition talks after the two sides failed to reach an agreement on price. PayPal’s board was previously reported to be…