PayPal Holdings Inc. (NASDAQ:PYPL) is reportedly negotiating a sale to a group including payments firm Stripe and private-equity firm Advent International.
Stripe and Advent Eye Higher PayPal Bid
Stripe and Advent proposed $60.50 a share in July, which PayPal viewed as insufficient, The Wall Street Journal reported Friday, citing sources. Both sides are negotiating a potentially higher price.
A deal could be reached in the coming weeks, though an agreement is not guaranteed, according to the report. The $60.50-a-share proposal had valued PayPal at roughly $53 billion.
PayPal and Stripe did not immediately respond to Benzinga‘s request for comment.
Michael Burry Called Stripe’s PayPal Bid Too Low
A July report stated PayPal’s board rejected the offer with an eye toward a price closer to $70 a share.
Earlier, "Big Short" investor Michael Burry called the bid too cheap, pegging fair value near $100 a share.
The proposal comes after a leadership shake-up at PayPal in February, when its board ousted former CEO Alex Chriss and appointed Enrique Lores as his successor.
Stock Performance
PayPal has a market capitalization of approximately $52.75 billion. Its stock has traded between a 52-week high of $79.22 and a 52-week low of $38.46.
Over the past 12 months, the large-cap stock has declined 10.93%, but it is up 6.05% year to date.
With a strong Momentum in the 82nd percentile, Benzinga’s Edge Stock Rankings indicates PYPL stock has a positive price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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