Stripe and Advent International Bid $60.50 Per Share to Acquire PayPal

Payment company Stripe and private equity firm Advent International have jointly submitted a takeover offer to PayPal, according to Odaily. The bid is priced at $60.50 per share, valuing PayPal at over $53 billion, representing a premium of approximately 28% over PayPal's closing price on Tuesday. The offer was submitted earlier this month and is backed by approximately $50 billion in committed bank financing. Stripe and Advent had preliminary contact in early April. PayPal has not yet responded to the offer, and the parties are seeking to reach an agreement by the end of this month. Under the proposal, Stripe and Advent would jointly hold PayPal, each owning a 50% stake, rather than splitting the company.