Stripe, Advent offer to buy PayPal for more than $53 billion

Payments company Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings Inc for $60.50 per share, in a deal that would value the payments company at more than $53 billion, two people said. 

Why it matters

Combining Stripe and PayPal, the most widely used payment platforms for internet merchants, would create one of the world’s largest global online payments company, processing some $3.7 trillion of annual payment volume. PayPal shares were last up nearly 17% after the Reuters report.