Stripe, Advent offer to buy PayPal for more than $53 billion: Report
The joint bid is backed by about $50 billion in bank financing and would give Stripe and Advent equal ownership without breaking up PayPal.
- On Tuesday, payments company Stripe and private equity firm Advent International made a joint offer to acquire PayPal Holdings Inc for more than $53 billion, representing a 28% premium to PayPal's closing share price.
- PayPal has faced slowing growth and intensifying competition from rivals like Apple Pay and Google Pay, with market capitalization plummeting from about $360 billion in 2021 to roughly $36 billion this year.
- Backed by about $50 billion in committed bank financing, the proposal would see Stripe and Advent jointly own PayPal with equal stakes rather than breaking up the company, according to sources.
- PayPal CEO Enrique Lores has not responded to the offer while pursuing a turnaround strategy to simplify operations and leverage artificial intelligence for growth.
- The potential acquisition joins a wave of consolidation in the global payments sector, with recent deals including the $2.75 billion purchase of Payoneer Global by Canadian payments firm Nuvei.
141 Articles
141 Articles
The payment service is promoted by his younger competitor Stripe and a financial investor. The maneuver meets Paypal in a turbulent time.
Stripe and Advent offer more than $53 billion to buy PayPal and create a payments giant
The structure is what makes the offer unusual. Rather than carve up PayPal and sell off the parts, Stripe and Advent want to hold the company together, splitting ownership evenly between them, the people said.Read Entire Article
PayPal Unlikely to Bite on ‘Low-Ball’ $53B Offer from Stripe, Advent
In the years after it was acquired by eBay in 2002, PayPal became famous for an exodus of founders and early employees who went on to launch many of the world’s most transformative companies. Including Peter Thiel, Elon Musk, David Sacks, Reid Hoffman and Chad Hurley, the group was eventually nicknamed the PayPal Mafia. More than two decades later, a now-struggling PayPal that has stood on its own since a 2015 spinoff must decide whether it has…
Stripe’s Bold Bid for PayPal: A $53 Billion Gamble That Could Reshape Digital Payments
PayPal shares jumped 17% after news broke that Stripe and private equity firm Advent International had jointly offered more than $53 billion to buy the payments pioneer. The proposal, for $60.50 a share, landed earlier this month. It carries a 28% premium to PayPal’s prior close. Yet the target has yet to respond. And the drama unfolds against years of struggle for a company once valued at $360 billion. Stripe, still private and valued at $159 b…
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