Talks to sell PayPal to Stripe and Advent are heating up
PayPal is reportedly in ongoing acquisition talks with Stripe and private equity firm Advent. This potential sale follows a series of strategic shifts by CEO Enrique Lores to revitalize the fintech company's performance.
Why it matters
A potential acquisition of PayPal would be a major consolidation in the fintech industry, impacting global digital payment infrastructure.
PayPal CEO Enrique Lores’ turnaround plan for the fintech company could include a sale — of itself.
The prospect first popped in July when Stripe and private equity giant Advent offered to buy PayPal for $60.50 a share in a deal that would have valued it at $53 billion, the Wall Street Journal reported at the time.
PayPal balked. But apparently, negotiations never stopped and a deal could come together in the coming weeks, according to new reporting by the WSJ, which cited unnamed sources.
PayPal declined to comment on the report. A Stripe spokesperson said the company doesn’t “comment on rumors or speculation.”
The negotiations are taking place as Lores attempts to save the company from its lagging trajectory .
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