Stripe and Advent propose acquiring PayPal for more than $53 billion

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PANews July 15 report, citing Reuters: Payment company Stripe and private equity firm Advent International have jointly made a takeover offer to PayPal, priced at $60.50 per share, valuing the company at over $53B, a premium of about 28% over PayPal’s Tuesday closing price. The offer was submitted earlier this month and has secured about $50B in bank financing commitments. Stripe and Advent had preliminary talks in early April, and have not yet received a response from PayPal. Both sides are seeking to reach an agreement by the end of this month. Under the proposal, Stripe and Advent would jointly own PayPal, each holding 50% of the equity, rather than splitting the company.
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