FinanceHindustan Times
PayPal shares jump 16% after Stripe, Advent make $53B takeover offer
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Stripe and Advent International jointly offered $60.50 per share, valuing PayPal at over $53 billion.
PayPal shares jumped 16% in premarket trading after the takeover offer was reported.
The offer price is approximately 28% higher than PayPal's closing share price of $47.37.
The bid is backed by about $50 billion in financing promised by banks, per Reuters sources.
Stripe and Advent each would own 50% of PayPal and plan to keep the company together.
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