PayPal is probably not pursuing an acquisition, Semafor reported, citing folks acquainted with 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 companies, 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 potential activist investor marketing campaign or a hostile takeover. The bankers have been working with Alex Chriss, PayPal’s now-ousted CEO, the outlet reported. The corporate’s new CEO begins subsequent week, PayPal has mentioned.
PayPal didn’t reply to TechCrunch’s request for remark.
