Shares in PayPal surged during trading on Wednesday following a report of a $53 billion takeover offer from payments company Stripe and private equity firm Advent International.
According to sources familiar with the matter who spoke to Reuters, Stripe and Advent International are planning to acquire PayPal at $60.50 per share.
The two companies submitted the offer earlier this month, which includes around $50 billion in bank financing and would grant PayPal shareholders a premium of approximately 28%.
PayPal has yet to respond to the offer, which would give both Stripe and Advent International joint ownership of the company as well as equal stakes.
The company's shares jumped around 16% in pre-market trading, having fallen approximately 18% over the past year.
Media reports in February indicated that Stripe — valued at $159 billion — was considering a purchase of PayPal.
PayPal has struggled to distinguish itself in the fiercely competitive payments market and issued disappointing earnings guidance for 2026.
The company also replaced its former chief executive Alex Chriss earlier this year, who had originally been appointed to improve the company's weak performance.