Stripe and Advent bid more than $53 billion to acquire PayPal

According to Reuters, payments company Stripe and private equity firm AdventInternational jointly made a takeover offer to Paypal Holdings (PYPL.O) at $60.5 per share, with a total valuation of more than $53 billion, a premium of about 28% to PayPal's closing price on Tuesday. The offer received approximately US$50 billion in bank financing support. Both parties plan to each hold 50% equity and will not split the company. The acquisition proposal was submitted earlier this month after preliminary contact between the two parties in early April and no response has been received from PayPal. Stripe and Advent hope to reach an agreement before the end of the month. There is still uncertainty as to whether the transaction will eventually be implemented.