Stripe and Advent are jointly offering $53 billion for PayPal

Payment provider Stripe and private investor Advent International are making a joint bid to acquire PayPal for more than 53 billion dollars (46.4 billion euros). If the deal goes through, a young challenger will swallow up one of the pioneers of online payments.

From pioneer to takeover target

Stripe and Advent are offering $60.50 (€53.05) per share for PayPal, sources told Reuters. The offer is 28% above Tuesday’s closing price and has secured approximately $50 billion (€43.8 billion) in committed bank financing. The two prospective buyers reportedly each want to own half of PayPal; they are said to have no intention of splitting up the payment company.