PayPal Stock Jumps 16% on $53B Takeover Offer from Stripe and Advent International

PYPL16.29%
People familiar with the talks said Stripe and Advent International jointly submitted a takeover proposal for PayPal earlier in July, valuing the payments company at more than $53 billion, or $60.50 per share. The offer, backed by about $50 billion in committed financing, prompted PYPL stock to surge 16% to around $55.24, representing a 28% premium to PayPal's previous closing price. PayPal has not responded to the proposal, and the bidders are seeking to advance discussions before month-end.
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