PayPal’s board viewed a US$53 billion takeover approach from Stripe and Advent International as inadequate and risky because of financing and regulatory concerns, sources said.

The US$60.50-a-share bid was submitted earlier this month.

PayPal has not formally responded, while the board weighs the offer against management’s turnaround plan and the possibility of other bids.

Stripe, a US-based payments company, and Advent, a US-based private equity firm, have considered remedies if antitrust regulators object.

One option under discussion is separating PayPal’s enterprise payments arm Braintree or other assets and transferring them to Advent, which could combine them with payments investments, including Nuvei.

PayPal shares rose 2% on Thursday to US$56.73, above the bid price and higher than the implied premium to the prior close.

🔗 Source: Reuters

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