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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.
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DECRYPTAGE - The payment specialist Stripe and the Advent Fund propose to buy the American giant for $53 billion.
·Paris, France
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PayPal shares soar 17% after Stripe, private-equity firm make blockbuster $53B offer
Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings for $60.50 per share, in a deal that would value the payments company at more than $53 billion, two people familiar with the matter said.
·New York, United States
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A possible takeover offer from Stripe and Advent International increases PayPal's share by 17 percent. The joint venture could evaluate PayPal with more than $53 billion and provide a new momentum in the payment sector.
·Berlin, Germany
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Coverage Details
Total News Sources111
Leaning Left15Leaning Right22Center21Last UpdatedBias Distribution38% Right
Bias Distribution
- 38% of the sources lean Right
38% Right
L 26%
C 36%
R 38%
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