Stripe, Advent International said to offer $60.50 a share for PayPal in bid topping $53 billion
NEW YORK, July 20. Stripe and Advent International have jointly offered $60.50 per share to acquire PayPal Holdings Inc, according to reports. The bid would value the payments company at more than $53 billion. PayPal shares rose 20% in premarket trading on the news.
Key takeaways
- Stripe and Advent International have jointly offered $60.50 per share to acquire PayPal Holdings Inc, according to reports.
- The bid would value PayPal at more than $53 billion.
- PayPal shares rose 20% in premarket trading on the news.
- None of the three parties—Stripe, Advent International, or PayPal Holdings—had publicly confirmed the offer as of the report.
- Stripe is a private payments company and Advent International is a private equity firm, jointly bidding for the publicly traded PayPal.
NEW YORK, July 20. Stripe and Advent International have jointly offered $60.50 per share to acquire PayPal Holdings Inc, according to reports. The bid would value the payments company at more than $53 billion. PayPal shares rose 20% in premarket trading on the news.
The joint offer
The proposal pairs Stripe with Advent International in a combined approach for PayPal Holdings. At $60.50 a share, the total deal value would exceed $53 billion, the reports indicate. None of the three parties had publicly confirmed the offer as of this report.
Stripe is a private payments company. Advent International is a private equity firm. Together they are the reported joint bidders for PayPal Holdings, a publicly traded payments company.
Premarket reaction
PayPal shares climbed 20% before the open on the reported offer. Short. Then a longer one: without a public statement from Stripe, Advent International, or PayPal Holdings confirming or denying the approach, the $60.50-per-share figure is where traders are bidding the stock ahead of the regular session.