Share price plummets, market value evaporates by nearly half, Paypal attracts potential acquirers' interest

Gelonghui, February 24th | According to sources, Paypal (PYPL.US) is attracting acquisition interest from potential buyers after its stock price plummeted, wiping out nearly half of its market value. Sources said that the California-based company has already met with several banks among the interested parties it has proactively approached. At least one major competitor is considering a full acquisition, while some other interested parties are only interested in certain Paypal assets. The sources cautioned that acquisition intentions are still at a preliminary stage and a deal may not necessarily be reached. Founded in the late 1990s, Paypal is a pioneer in the digital payments sector. However, the company is currently facing difficulties, as its customers are increasingly turning to other payment methods. Over the past 12 months, Paypal's stock price has fallen by about 46%, and the company's market value is approximately $38.4 billion. Paypal triggered a circuit breaker during intraday trading, but trading has now resumed and the stock's gain has expanded to 8%.