PayPal jumps after report of over $53 bln buyout offer from Stripe, Advent
PYPL•PayPal shares jump on takeover report
Digital payments platform PayPal PYPL.O jumps 15.7% to $54.83 in premarket trading.
The stock is set to open at nearly a six-month high if gains hold.
Reported offer from Stripe and Advent
Payments company Stripe and private equity firm Advent International have jointly offered to buy PYPL for over $53 billion, Reuters reports.
The offer of $60.50 per share represents about a 28% premium to the company’s last closing price.
The proposal follows an initial approach made in early April, according to sources.
PayPal's recent performance and analyst view
PayPal's market cap plunged from a 2021 peak of about $360 billion to about $36 billion this year as slowing growth and competition in digital payments erased most of its pandemic-era gains.
10 out of 46 brokerages rate the stock , rate it , and rate it ; their median price target is , according to LSEG data.
