PayPal stock surged by 15% in Wednesday's premarket session following a report claiming that payments company Stripe and private equity firm Advent International have submitted a joint acquisition offer for the payments portal at $60.50 per share, valuing the firm at over $53 billion.
According to sources, the offer, which was made earlier this month, is supported by around $50 billion in committed bank funding and represents a 28% premium to PayPal's closing share price on Tuesday. Under the proposal, Stripe and Advent would jointly own PayPal, each with an equal stake, instead of splitting up the business.
PayPal shares rose 15.09% in premarket trading in New York following the report, going for $54.52 at 4:29 am ET.
https://breakingthenews.net/Article/PayPal-soars-15-on-dollar53B-takeover-offer-report/66700349
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