Stripe, Advent offer more than $53 billion to buy PayPal
Payments giant Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings at $60.50 per share, according to Reuters. The bid values the payments company at more than $53 billion.
Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings at $60.50 per share, Reuters reported, valuing the digital payments company at more than $53 billion in what would rank among the largest deals in the sector's history.
PayPal has been one of the pioneers of online payments since the early days of e-commerce, but it has faced intensifying competition in recent years from Stripe itself, Apple Pay and a wave of buy-now-pay-later services. The company's shares have been under pressure amid concerns over slowing growth.
The proposed deal still faces regulatory scrutiny and would require approval from PayPal's board. Neither company has issued an official statement confirming the bid, and analysts say that if finalized, the acquisition could reshape the competitive balance across the payments industry.
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