PayPal in Renewed Sale Talks With Stripe and Advent

Overview

• Multiple outlets, citing a Wall Street Journal report on Friday, say PayPal is in active negotiations with Stripe and Advent International to revive and raise a July takeover proposal.
• The bidders first offered $60.50 per share in July, a price PayPal's board rejected as too low, and the sides are now discussing a higher figure though no agreement is announced.
• Markets reacted modestly to the reports with PayPal shares rising roughly 1.8–2% as traders priced in renewed takeover speculation.
• PayPal's new CEO Enrique Lores has launched a multi-year turnaround that includes reorganizing the company and planned workforce reductions, and the board has said it will weigh any sale against that strategic plan.
• Any deal would face close U.S. and EU antitrust scrutiny and depend on large financing commitments that news reports say bidders have been assembling but which remain unconfirmed.