PayPal rejects $53 billion Stripe-Advent takeover bid as undervalued

PayPal's board believes a $53 billion takeover bid from Stripe and Advent International undervalues the company.

The board sees regulatory and financing hurdles for the proposed deal.

PayPal has not formally responded to the bid, according to sources.

Combining Stripe and PayPal would create one of the world's largest online payments firms, processing about $3.7 trillion annually.

PayPal has struggled to compete with rivals like Apple Pay and Google Pay amid slowing growth.