PayPal shares climbed in premarket trade on reports that payments start-up Stripe and private equity group Advent International jointly offered to buy the company.
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Payments company Stripe and private equity firm Advent International reportedly made an offer to acquire PayPal at $60.50 per share in a deal that would value the payments giant at more than $53 billion.
Stripe and buyout firm Advent International made a joint takeover bid for PayPal Holdings in a deal that would value the fintech company at around $53 billion, according to people familiar with the matter. Stripe and Advent proposed paying $60.50 a share for PayPal, the people said. There are no guarantees PayPal will be receptive, the people added.
PayPal shares are up 19% in premarket trading after Reuters reported that payments processor Stripe and private-equity firm Advent offered to buy it for $60.50 a share, in a deal that would value at it more than $53 billion. If the gains hold, PayPal shares are on track to open above $56. PayPal shares have languished in the past few years as the company has struggled to compete in the payments-technology space.
Investing.com -- U.S. stock index futures edged higher on Wednesday after softer inflation data and a strong start to the corporate earnings season boosted investor sentiment, with markets weighing whether resilient corporate profits can continue to support Wall Street’s record rally despite lingering geopolitical risks.
PayPal surged on a report that Stripe and private equity firm Advent are working on a $53 billion takeover offer for the digital payments company.
Stripe and private equity giant Advent International have reportedly teamed up to float a massive $53 billion takeover bid for PayPal Holdings Inc. (NASDAQ: PYPL). At $60.50 per share, the joint offer represents a 28% premium to Tuesday’s closing price of $47.37. But for "Big Short" legend Michael Burry, that number isn’t a victory lap—it’s a lowball opening move. Burry, who recently made PayPal one of his top deep-value convictions, immediately poured cold water on the proposed price tag. "The
US stocks appeared set for a steady start on Wednesday as investors drew confidence from strong bank earnings and a softer-than-expected inflation report the day before, even as oil prices remained elevated following fresh US strikes on Iran. Nasdaq futures were up 0.5% ahead of the opening...
July 15 (Reuters) - U.S. stock index futures edged higher as investors braced for a fresh wave of corporate earnings as well as producer inflation data due later Wednesday, while PayPal shares surged
PayPal shares climbed in premarket trade on reports that payments start-up Stripe and private equity group Advent International jointly offered to buy the company.
Payments company Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings Inc 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. The offer, submitted earlier this month, is backed by about $50 billion in committed financing from banks, the people said, and represents around a 28% premium to PayPal's closing share price on Tuesday. Advent declined to comment, while PayPal and Stripe did not immediately respond to Reuters requests for comment.
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