Stripe and Advent said to have made $53bn bid for PayPal

(Sharecast News) - Payments company Stripe and private equity firm Advent International have reportedly made ​a joint offer to buy PayPal for $60.50 per share, in a deal that would value the firm at more than $53bn. According to Reuters, the offer - submitted earlier this month - is backed by about $50bn in committed financing from banks. The offer represents a premium of around 28% to PayPal's closing share price on Tuesday.

Sources familiar with the matter said the proposal follows an initial approach ​in early April. Stripe and Advent have not received a response from PayPal and are seeking to advance discussions in the coming ​weeks, the sources added.

It was understood that under the proposal, Stripe and Advent would jointly own PayPal, with each holding an equal stake, rather than breaking ⁠up the company. There is no certainty the approach will result in a transaction, the sources said.