Stripe, Advent offer $53B to acquire PayPal: Report
Stripe and Advent International reportedly made a joint bid to acquire PayPal in a deal backed by about $50 billion in committed financing. The offer is said to be $60.50 per share, valuing PayPal at a 28% premium to Tuesday’s close. This would be Stripe’s second known attempt to buy PayPal after earlier exploratory talks this year, as PayPal faces increasing competition from Apple Pay and Google Pay. PayPal and Stripe both declined to comment. PayPal shares jumped 11.3% in premarket trading on the report, though the stock remains well below year-ago levels. Both companies have also been expanding in crypto and stablecoins. PayPal launched PYUSD in 2023, while Stripe has broadened stablecoin accounts globally and received conditional approval for its Bridge platform to operate as a national trust bank.
