PayPal stock jumps after reports Stripe, Advent are weighing $53 billion takeover
Samuel Boivin | Nurphoto | Getty Images
PayPal jumped in premarket trading Wednesday after Stripe and Advent International reportedly made a joint offer to acquire the payments firm in a $53 billion deal.
Payments firm Stripe and private equity company Advent are planning to buy PayPal for $60.50 per share, Reuters reported Wednesday, citing two people familiar with the matter. The deal would value the payments company at more than $53 billion.
The offer was submitted earlier this month and includes roughly $50 billion in committed bank financing, valuing PayPal at a 28% premium to its closing share price on Tuesday, according to the report.
PayPal hasn’t responded to the offer, which would see Stripe and Advent jointly own the company and hold equal stakes. The firms are hoping to progress discussions in the coming weeks.
PayPal was last trading 16% higher before the market opened, but its stock has declined 18% in the past year.
CNBC has reached out to PayPal, Stripe, and Advent International for comment.
PayPal’s stock in the past year.
This is a breaking news story. Please refresh for updates.
