PayPal can push Stripe to dig deeper in its wallet

Payments company Stripe and private equity firm Advent International have made a joint bid to buy PayPal for $60.50 per share, in a deal that would value the payments company at more than $53 billion, Reuters reported on July 14, citing unnamed sources.

The offer, submitted earlier in July, is backed by about $50 billion in committed financing from banks, one of the sources told Reuters.

The proposal, which has not received a response, follows an initial approach made in early April, according to the report. Stripe and Advent would each own equal stakes in PayPal, it added.

The financial plumbing firm and buyout shop Advent offered $53 billion to buy the payments processor. It's a welcome lifeline for Venmo's owner, but at a bargain price. There's room to sweeten the bid by 15%, but it would increase the risks from extra debt and legacy technology.

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