PayPal Board Sees Stripe-Advent's $53 Billion Bid as Undervaluing Company, Sources Say
The board says the $60.50-a-share offer may not capture PayPal’s future value and is weighing financing certainty and regulatory risks.
- PayPal's board views a $53 billion takeover bid by Stripe and Advent International as undervaluing the company, citing potential regulatory and financing hurdles as key concerns.
- Stripe and Advent submitted the $60.50-per-share offer earlier this month, aiming to jointly own PayPal as the company struggles against rivals like Apple Pay and Google Pay.
- Famed investor Michael Burry, known for 'The Big Short,' criticized the offer as "simply too low" in a post Wednesday, noting the bid sits about 24% below PayPal's 52-week high of $79.50.
- The PayPal board will meet as soon as Monday, July 20, to discuss the offer; if directors reject the $60.50 price, bidders may walk away or raise their proposal.
- Combining Stripe and PayPal would create one of the world's largest online payments companies, processing some $3.7 trillion of annual volume, though regulatory hurdles remain a key board consideration.
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PayPal's Board Thinks Stripe And Advent's $53 Billion Offer Is Too Low. The Rejection Could Set The Stage For A Bigger Bid.
PayPal's board believes the $53 billion takeover proposal from Stripe and Advent International does not adequately value the payments giant.
In an unexpected move, Stripe and Advent International Investment have made an offer to acquire PayPal, opening up new possibilities in the world of digital payments. The significance of the news: Stripe and Advent International Investment have made an offer of $60.50 per share to acquire PayPal, valuing the leading payments company at more than $53 billion. If the offer is accepted, two of the most widely used payment platforms by online mercha…
PayPal board rebuffs $53bn Stripe and Advent bid as too low, sources say
PayPal’s board reckons that a $53bn (£39bn) joint takeover approach from Stripe and the private-equity firm Advent International sells the payments pioneer short, the latest twist in a fast-moving round of payments consolidation. People familiar with the talks told Reuters the directors view the offer as inadequate and have yet to respond formally. The approach values PayPal at […] This story continues at The Next Web
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- 53% of the sources are Center
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