Shares of PayPal Holdings Inc (NASDAQ:PYPL) surged 14.86% in pre-market trading on Wednesday following a report that Stripe and Advent International have proposed a joint acquisition of the digital payments firm in a deal valued at over $53 billion.
The proposal for $60.50 per share, backed by close to $50 billion in committed financing from banks, was submitted earlier this month, Reuters reported. That implies a 28% premium to PayPal’s closing share price on Tuesday,
The proposed deal would see Stripe and Advent jointly owning PayPal, each holding an equal stake, as per the report.
Stripe, Advent International and PayPal did not immediately respond to Benzinga‘s requests for comment.
Read Next
