PayPal may not be pursuing an acquisition, Semafor reported, citing people familiar with the matter.
Earlier this week, Bloomberg reported that Stripe expressed interest in buying some or all of PayPal Holdings, which includes the flagship product PayPal and its services, as well as other companies like Venmo. Stripe declined to comment on the news.
But unnamed sources tell Semafor that the company has been working with bankers in preparation for a possible activist investor campaign or a hostile takeover. The bankers were working with Alex Chriss, PayPal’s now-ousted CEO, the outlet reported. The company’s new CEO starts next week, PayPal has said.
PayPal did not respond to TechCrunch’s request for comment.
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