Stripe and Advent Eye Over $53 Billion Acquisition of PayPal

Payment company Stripe and private equity firm Advent International have jointly submitted a takeover bid for PayPal, offering $60.50 per share. The deal, which values PayPal at over $53 billion, represents a premium of approximately 28% over PayPal's closing price on Tuesday. The offer, submitted earlier this month, is backed by around $50 billion in committed bank financing. Stripe and Advent had preliminary discussions in early April, and have yet to receive a response from PayPal. Both parties are currently seeking to reach an agreement by the end of this month. Under the proposal, Stripe and Advent would jointly hold PayPal, each taking a 50% equity stake, rather than splitting the company.