Just months after unveiling a $100 million investment push targeting growth opportunities across Africa and the Middle East, PayPal has become the target of a more than $53 billion takeover bid from global payments company Stripe and private equity firm Advent International.
According to Reuters, Stripe and Advent have offered $60.50 per PayPal share, valuing the digital payments giant at more than $53 billion and representing a 28% premium to its previous closing price.
The proposal is backed by about $50 billion in committed bank financing, while news of the bid sent PayPal's shares soaring roughly 18%.
Reuters reported that the proposal follows an initial approach made in April, with people familiar with the matter saying discussions remain confidential. Stripe, Advent and PayPal declined to comment.
If completed, the acquisition would rank among the largest fintech deals ever and could reshape the global payments landscape.
