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Stripe and Advent eye bid for PayPal, fueling premarket rally
PayPal shares jumped in premarket trading after the report that Stripe could join with Advent International to pursue the payments company.
PayPal shares rallied in premarket trade after MarketWatch reported that rival Stripe may team up with private equity firm Advent International on a bid for the struggling payments processor.
The report frames the potential move as a possible $53 billion lifeline for PayPal, as investors reacted to the prospect of a transaction.
MarketWatch said the development centered on the pairing between Stripe and Advent, with PayPal positioned as the target in the reported process.