By Milana Vinn
July 14 – Payments company Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings Inc for $60.50 per share, in a deal that would value the payments company at more than $53 billion, two people familiar with the matter said.
The offer, submitted earlier this month, is backed by about $50 billion in committed financing from banks, the people said, and represents around a 28% premium to PayPal’s closing share price on Tuesday.
The people declined to be named as the deal discussions are confidential. Advent declined to comment, while PayPal and Stripe did not immediately respond to Reuters requests for comment.
(Reporting by Milana Vinn in New York; Editing by Echo Wang, Sumeet Chatterjee and Lincoln Feast)
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