Stripe and Advent Reportedly Bid $60.50 a Share for PayPal. Here's the Real Prize: Venmo.
PayPal has struggled to regain momentum since the pandemic.
Overview
A trio of companies is reportedly planning to buy one of the original digital payments companies, PayPal (NASDAQ:PYPL), in a deal valued at $53.4 billion, or $60.50 per share, according to Reuters.
PayPal stock rose over 17% on July 15.
Details
Reuters reported that Stripe and Advent would jointly own PayPal under the proposed deal. CNBC reported that Block is also joining the group, with each planning to contribute $17 billion in equity.
Source
Originally published at www.fool.com.
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