Stripe and Advent International have reportedly submitted a joint offer to acquire PayPal for $60.50 per share, valuing the payments company at more than $53 billion, according to a Reuters report cited by CNBC World [1]. The proposed deal includes approximately $50 billion in committed bank financing and represents a 28% premium to PayPal's closing share price on Tuesday [1]. The offer was submitted earlier this month, and if successful, Stripe and Advent would jointly own PayPal with equal stakes [1].
PayPal has not yet responded to the offer, and discussions are expected to progress in the coming weeks [1]. The news of the potential acquisition has had an immediate impact on the market, with PayPal's stock trading 16% higher in premarket activity, despite having declined 18% over the past year [1]. The significant premium offered and the scale of the financing have contributed to the notable movement in PayPal shares [1].
CNBC has reached out to PayPal, Stripe, and Advent International for comment, but no official statements have been made as of the time of reporting [1]. This is a developing story, and further updates are anticipated [1].
CONCLUSION
The reported $53 billion takeover bid by Stripe and Advent International has driven a sharp rally in PayPal shares, reflecting strong market interest in the potential deal. Investors are closely watching for PayPal's response and further developments as discussions progress.