PayPal Jumps 16% As Stripe, Advent Table $53 Billion Takeover Bid

Payments giant PayPal surged in premarket trading on Wednesday after reports emerged that financial technology company Stripe and private equity firm Advent International had made a joint $53 billion bid to acquire the company.

According to a Reuters report citing two people familiar with the matter, Stripe and Advent have offered to buy PayPal for $60.50 per share, valuing the payments company at more than $53 billion.

The report said the proposal was submitted earlier this month and includes approximately $50 billion in committed bank financing, representing a 28% premium to PayPal’s closing share price on Tuesday.

“Stripe and Advent are planning to buy PayPal for $60.50 per share.”

The sources also disclosed that:

“The offer was submitted earlier this month and includes roughly $50 billion in committed bank financing.”

If completed, the transaction would see Stripe and Advent jointly own PayPal, with both firms holding equal ownership stakes.

According to the report, PayPal has not yet responded to the takeover proposal, while Stripe and Advent are expected to continue discussions with the company in the coming weeks.

Following news of the bid, PayPal shares climbed about 16% in premarket trading on Wednesday. Despite the rally, the company’s stock has fallen approximately 18% over the past year.

Boluwatife Enome

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