Stripe, Advent offer $53B to acquire PayPal: Report

Stripe and Advent reportedly offered to buy PayPal for $53 billion, at a 28% premium compared to the company’s Tuesday closing price.

Payments company Stripe and private equity firm Advent International reportedly made a joint offer to acquire PayPal Holdings.

The offer includes about $50 billion in committed financing, Reuters reported Wednesday, citing sources familiar with the matter. The joint offer seeks to acquire PayPal at $60.50 per share, which would value the company at a 28% premium to PayPal’s Tuesday closing price.

This is Stripe’s second attempt to acquire PayPal. According to a February Bloomberg report, the payment processing company held early acquisition talks with PayPal, which was facing growing competition from smartphone-based payment services such as Google Pay and Apple Pay.