Stripe, the world’s most valuable private fintech company, has teamed up with private equity giant Advent International to make an unsolicited bid for PayPal Holdings at $60.50 per share. The deal values PayPal at over $53 billion, representing a 28% premium over its closing price on July 14.
What the bid looks like
The offer, submitted on July 15, comes backed by approximately $50 billion in committed bank financing.
Stripe and Advent plan to take equal ownership stakes in a combined entity. Neither company intends to break up PayPal’s existing business structure. The plan is to keep PayPal running as a unified operation.
PayPal’s stock surged between 13% and 20% during premarket trading on July 15.
