Stripe and Advent Make $53 Billion Play for PayPal

PayPal shares jumped about 16% in premarket trading Wednesday after reports that Stripe and Advent International submitted a joint $60.50-a-share offer, valuing the company at more than $53 billion. The proposal, made earlier this month and supported by roughly $50 billion of committed bank financing, represents a 28% premium to Tuesday’s close. PayPal has not responded , and the bidders would reportedly own equal stakes.