Stripe, Advent Offer $53 Billion for PayPal as 28% Premium Pressures Board
Updated
Updated · The New York Times · Jul 15
Stripe, Advent Offer $53 Billion for PayPal as 28% Premium Pressures Board
3 articles · Updated · The New York Times · Jul 15
Summary
$53 billion is on the table for PayPal, with Stripe and Advent offering about $60.50 a share and the company yet to formally respond.
$50 billion in committed bank financing underpins the bid, which could still be reviewed, rejected, or raised as PayPal's advisers assess it.
PayPal has been under pressure as growth in its higher-margin branded consumer business slowed and its stock fell 24% over the past year.
Stripe would gain a bigger consumer foothold through PayPal's wallet business, especially Venmo, extending beyond its core merchant payment-processing franchise.
A deal would reshape fintech competition as PayPal faces newer rivals such as Apple Pay and could still draw competing bidders.