Stripe and Advent to acquire PayPal (PYPL) for over $53 billion according to Reuters report

Online payment company PayPal is reportedly the target of a massive acquisition offer from Stripe and Advent.

Private equity company Advent International and online payment platform company Stripe have reportedly made a joint offer to acquire PayPal in a deal valued at over $53 billion. The $60.50/share offer is nearly 28% higher than where shares of PayPal closed on Tuesday.

Two people close to the deal provided details of this transaction to Reuters. The acquisition offer was made earlier in July according to Reuters' sources and $50 billion will come from bank financing. 

PayPal (PYPL) shares hit an all-time high price of $309.14/share back in 2021, but have fallen materially since then. The stock is down over 18% on the year, but it appears that Stripe and Advent see opportunity in the brutal bear market the payment company has found itself in. Each company will be taking a 50% stake if the deal closes. This is some good news for PayPal shareholders after five years of declines as the company has faced increasing competition from Zelle, Apple, Google, Cash App, and plenty of other online payment offerings. 

PayPal, Stripe, and Advent have yet to comment on this rumored deal, so keep it locked on Shacknews for all the latest market news as it breaks. 

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