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PayPal shares plunged as much as 16% in premarket trading Friday, the most in months if the losses hold through the cash session, after a consortium led by private-equity firm Advent International and payments giant Stripe abandoned its takeover bid for the struggling payment processor (paywalled, use Reader mode in Firefox):
A consortium of buyout firm Advent and payment processor Stripe has decided to abandon its pursuit of fintech pioneer PayPal Holdings Inc., a potential deal that would have ranked as one of the biggest-ever leveraged buyouts, according to people familiar with the matter.
From ZeroHedge:
PayPal reportedly rejected the $50 billion offer, betting that Advent and Stripe would return to the negotiating table with a higher price. Instead, the consortium walked away.
[...] Takeover interest in PayPal first came to light in a February Bloomberg article, which reported that Stripe was considering acquiring all or part of PayPal. Reuters then reported on July 15 that an offer had been made, helping to catapult the stock up roughly 30% (as of Thursday's close).
(Score: 0, Interesting) by Anonymous Coward on Sunday August 30, @02:22PM
FWIW, typically that is a credit card company contract clause.
They don't want you taking out a "cheap" cash advance, at say 3% and 15-20% interest or 0% interest if paid-in-full on the next statement. Normally they charge you 15% on the spot, and interest at a higher 40% per year.