PayPal board sees Stripe-Advent offer as inadequate, sources say

The board is also weighing factors beyond price, including the certainty of financing, potential regulatory hurdles and what could be a lengthy timeline to complete any transaction, the source added. It is scheduled to hold additional meetings, the source said.

The consortium, meanwhile, is trying to address some of these issues. JPMorgan and Morgan Stanley have provided the bidders a roughly $50 billion financing package, two other people familiar with the bid said. The two banks also serve as advisers to the consortium, they added.

Stripe and Advent are contributing $17 billion in equity for the offer, one of the people said.

Under the offer, which was submitted earlier this month, Stripe and Advent would jointly own PayPal, with each holding an equal stake rather than breaking up the company, Reuters previously reported. But they have also considered possible remedies should it run afoul of antitrust regulators, one of the sources said.