Stripe and Advent Advance a Bid to Buy PayPal for More Than $53 Billion
Reuters reported on Tuesday, citing sources familiar with the matter, that Stripe and private equity firm Advent International submitted a joint acquisition bid for PayPal Holdings Inc (NASDAQ:PYPL) in a deal valued at more than $53 billion.
According to Reuters, the parties are offering $60.50 per share of PayPal, representing a 28% premium over the stock’s closing price on Tuesday.
Reuters added that the offer was submitted earlier in July and has committed financing from banks of roughly $50 billion. The bid comes after an initial approach in April, while PayPal has not responded to either offer so far.
Under the proposal, Stripe and Advent would jointly own PayPal, with each retaining an equal stake. The report said the parties are seeking to complete the deal before the end of this month.
PayPal did not immediately respond to a request for comment sent to it by email.
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$NVDAB
Reuters reported on Tuesday, citing sources familiar with the matter, that Stripe and private equity firm Advent International submitted a joint acquisition bid for PayPal Holdings Inc (NASDAQ:PYPL) in a deal valued at more than $53 billion.
According to Reuters, the parties are offering $60.50 per share of PayPal, representing a 28% premium over the stock’s closing price on Tuesday.
Reuters added that the offer was submitted earlier in July and has committed financing from banks of roughly $50 billion. The bid comes after an initial approach in April, while PayPal has not responded to either offer so far.
Under the proposal, Stripe and Advent would jointly own PayPal, with each retaining an equal stake. The report said the parties are seeking to complete the deal before the end of this month.
PayPal did not immediately respond to a request for comment sent to it by email.
#cards #BankingNews #AsianChipStocksRallyAfterUSSemiRebound #bachsaisH #XAUUSD
$NVDAB