Stripe, Advent Weigh Higher PayPal Bid After $60.50-a-Share Offer Fell Short
Updated
Updated · Engadget · Aug 15
Stripe, Advent Weigh Higher PayPal Bid After $60.50-a-Share Offer Fell Short
3 articles · Updated · Engadget · Aug 15
Summary
$60.50 a share was not enough to win PayPal, and Stripe and Advent are now discussing a higher offer that could be announced within weeks if talks hold.
PayPal was valued at about $53 billion in the July approach, after trading near historic lows and sitting around $40 billion—roughly $320 billion below its pandemic-era peak.
Reuters previously reported Stripe and Advent would own PayPal equally and do not plan a breakup, creating a payments group handling about $3.7 trillion annually.
Enrique Lores, named PayPal CEO in March, has been restructuring the company into checkout, Venmo, and payments-and-crypto units as a turnaround effort.