PayPal shares jump over 15% after Stripe, Advent make $53 billion buyout offer

PayPal shares jumped over 15% in premarket trading after Stripe and private equity firm Advent made a $53 billion buyout offer at $60.50 per share, about 28% above PayPal's Tuesday closing price. The proposal is backed by about $50 billion in committed bank financing and would give Stripe and Advent equal joint ownership without breaking up PayPal. Talks are at an early stage, with no response yet from PayPal, whose market cap has fallen from a 2021 peak of about $360 billion to lows of around $36 billion this year.