PayPal is not currently in discussions to sell itself to Stripe or any other entity, according to a Feb. 26 Semafor report citing sources familiar with the matter. This development contradicts earlier reports from the week suggesting that the payments firm Stripe was considering an acquisition of all or parts of PayPal.
PayPal's shares initially surged following speculation of Stripe's interest. However, the stock experienced a decline after the denial of sale talks was reported.
PayPal management has reportedly worked with bankers for months to prepare for potential activist campaigns or unsolicited takeover bids. This defensive strategy was initiated due to concerns regarding the company's declining share price.