PayPal is in advanced negotiations for an acquisition by a consortium including Stripe and Advent International.
The company rejected a previous $60.50 per share offer in July. That initial bid valued the payment processor at approximately $53 billion. Both parties are currently discussing a higher price for a potential deal announcement in the coming weeks.
PayPal’s market valuation has fallen significantly from its $360 billion peak in 2021. Increased competition from Apple Pay and Google Pay pressured the company's market share. PayPal shares rose following reports of the renewed buyout discussions.