PayPal Board Reportedly Rejects $60.50/Share Buyout Offer as Inadequate
PayPal's board has reportedly deemed the $60.50-per-share cash buyout offer from Stripe and Advent International as inadequate, according to multiple reports. The bid, which valued the payments company at over $53 billion, represents a 28% premium to PayPal's pre-bid price. However, the stock currently trades at about $56, a 7% discount to the offer, reflecting market skepticism about deal completion. Analysts' average price target of $53 is even lower, suggesting the company's standalone value is below the current market price. Reports indicate the bidders may raise their offer, and potential antitrust remedies, including separating PayPal's Braintree business, have been discussed. PayPal's first-quarter results showed modest growth, with revenue up 7% and active accounts rising only 1% year-over-year.
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