Stripe and Advent target PayPal in $53B-plus takeover bid
TL;DR Summary
Stripe and Advent International have submitted a joint offer to acquire PayPal at $60.50 per share, valuing the company at more than $53 billion and backed by roughly $50 billion in committed financing. The proposal envisions equal ownership of PayPal and comes after a previous approach, but PayPal has not yet responded and there’s no certainty a deal will materialize. PayPal has faced slowing growth and rising competition from rivals like Apple Pay and Google Pay; CEO Enrique Lores has begun a turnaround with a three-unit structure—Checkout, Venmo, and Payments & Crypto.
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