PayPal in Talks With Stripe, Advent on Higher Buyout Price
PYPL sits 60% above its 52-week low of $38.46.
Summary
PayPal is reportedly in negotiations with Stripe and Advent International over a higher acquisition price than the $60.50 per share offered in July. The Wall Street Journal reports the two sides have been discussing a potentially higher price after PayPal considered the initial bid too low. Shares rose 1.8% to $61.66 on Friday, valuing the company at about $54 billion. This follows the unsolicited $53 billion bid reported on July 15, which sent shares up 17% in a single day. The new report signals that talks are active and a sweetened offer may be forthcoming, though no terms have been disclosed.
At the time of this announcement, PYPL was trading at $61.67 on NASDAQ in the Finance sector, with a market capitalization of approximately $52.7B. The 52-week trading range was $38.46 to $79.22. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.