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PayPal rejects $53.4 billion buyout bid from Stripe and Advent

The offer valued PayPal at $60.50 per share, but the board said the bid was too low after PayPal shares jumped into the mid-teens following the announcement.

Reported · Written up by our desk · Analyst Ratings

PayPal rejected a joint acquisition bid worth $53.4 billion from Stripe and private equity firm Advent International, after the companies proposed taking the payments platform private with equal ownership stakes.

The bid was priced at $60.50 per share, representing a premium of about 6.5% to PayPal’s July 20 closing price and roughly 28% versus its July 14 pre-announcement close. After the news, shares rose as much as 19% in pre-market trading on July 15 and finished the day up nearly 16%.

In a statement, PayPal’s board said the offer was too low, though the report notes a deal could still materialize.

The same coverage highlights that PayPal’s strategy includes its PYUSD stablecoin, launched on Aug. 7, 2023, which is built on the Ethereum and Solana blockchains and is designed to hold a $1 value backed by cash and short-term U.S. government debt. Eligible users can earn a variable 4.0% annual reward for holding PYUSD in their accounts.

Latest closeEthereum $1,924.22 ▼0.2%|Solana $77.41 ▼0.9%

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