Stripe and Advent propose $53 billion takeover bid for PayPal
Stripe, a payments company, and Advent International, a private equity firm, have jointly proposed to purchase PayPal Holdings Inc for a sum exceeding $53 billion. The proposal, submitted earlier this month, values PayPal at $60.50 per share, a 28% premium to its closing share price on Tuesday. PayPal's shares jumped nearly 17% after the news, but the company has not yet responded.
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