STRIPE AND ADVENT INTERNATIONAL BID $53 BILLION FOR PAYPAL
PayPal stock rose in premarket trading on Wednesday following reports that Stripe and Advent International had made a joint offer to acquire the payments firm. According to Reuters, citing two people familiar with the matter, the two companies proposed purchasing PayPal at $60.50 per share. The transaction would value PayPal at more than $53 billion.
Stripe operates as a payments firm, whilst Advent International is a private equity company. The reported bid emerged as PayPal faced trading challenges. News of the potential acquisition prompted investor interest in PayPal's stock during premarket hours on Wednesday morning.
No statement from PayPal, Stripe or Advent International confirming the offer has been reported. The status of negotiations and any timeline for a decision remain unclear. Further details on the proposed transaction are expected to emerge as the story develops.