Stripe and Advent International reportedly offered $60.50 per share for PayPal, a 28% premium to Tuesday’s close.
PayPal shares surged nearly 19% in premarket trading to $56.29 after reports of a $53 billion takeover bid from payments firm Stripe and private equity group Advent International. The offer values PayPal at $60.50 per share, a 28% premium over its Tuesday closing price.
The proposed deal would mark a sharp discount from PayPal’s $78.22 price a year ago and less than a fifth of its July 2021 peak of $308.52. Stripe and Advent would jointly own PayPal, each holding an equal stake, though analysts note integration challenges and potential distractions for Stripe’s growth.
PayPal’s 439 million active accounts would significantly expand Stripe’s consumer-facing business, which currently serves 250 million users globally. Neither company commented on the reports.