Stripe and private equity firm Advent International have submitted a joint takeover proposal for PayPal Holdings, according to Reuters. The offer values PayPal at more than $53 billion, with a price of $60.5 per share, representing roughly a 28% premium to PayPal’s Tuesday close. The bid is backed by about $50 billion in committed bank financing. Under the proposed structure, Stripe and Advent would each hold a 50% stake in the company, and PayPal would not be broken up. Reuters said the proposal was submitted earlier this month after initial contact in early April. PayPal has not responded so far. Stripe and Advent are seeking to reach an agreement by the end of the month, though it remains uncertain whether the transaction will ultimately proceed.
Stripe and private equity firm Advent International have jointly made a takeover offer for PayPal Holdings (PYPL.O), according to Reuters, proposing $60.5 a share in a deal that would value the company at more than $53 billion.
The offer represents roughly a 28% premium to PayPal’s Tuesday closing price. Reuters said the bid is backed by about $50 billion in committed bank financing.
Under the proposal, Stripe and Advent would each own 50% of the company, and PayPal would not be split up.
The acquisition proposal was submitted earlier this month, following initial contact between the parties in early April. PayPal has not responded so far. Stripe and Advent hope to reach an agreement by the end of the month, though it remains uncertain whether the transaction will ultimately be completed.
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