PayPal Board Reportedly Rejects $60.50/Share Bid as Inadequate; Stock Trades at $56
PayPal's board has reportedly deemed a $60.50-per-share cash offer from Stripe and Advent International as inadequate, according to multiple reports. The bid, which valued PayPal at over $53 billion, represents a 28% premium to the stock's pre-bid price. However, shares currently trade around $56, a 7% discount to the offer, reflecting market skepticism about deal completion. Analyst consensus targets are even lower at $53. The board's stance suggests they believe the company is worth more, and reports indicate bidders may raise their offer. Potential antitrust concerns have been raised, including possibly separating PayPal's Braintree business. The company's recent financial results show modest growth, with Q1 revenue up 7% to $8.4 billion and active accounts growing only 1% to 439 million.
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