Trading in PayPal shares was briefly halted due to volatility, News.az reports, citing CNN.
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According to Bloomberg News, citing people familiar with the matter, the San Jose, California-based company has held meetings with banks amid unsolicited interest from suitors. At least one large rival is examining a potential acquisition of the entire company, while other interested parties are focused on specific PayPal assets, the people said.
The sources cautioned that buyer interest remains at a preliminary stage and may not result in a transaction. A PayPal representative declined to comment on the report.
The sharp stock movement reflects market reaction to the potential takeover scenario, which comes after a significant decline in PayPal’s share price over the past year. The stock has declined approximately 46% over the past 12 months, bringing the company’s market value to around $38.4 billion.
