Stripe and Advent bid $53 billion for PayPal during Lores turnaround
PayPal's new CEO must weigh a months-old operating reset against a $60.50-a-share bid that directors already view as inadequate.
By Ryan Merket · Published
Primary source: The Wall Street Journal
Why it matters
The bid tests whether Lores can turn a barely started restructuring into negotiating leverage while Stripe seeks the consumer network missing from its merchant payments business.
Stripe and Advent International have offered roughly $53 billion for PayPal, forcing Enrique Lores to consider a sale just four and a half months after he took charge of PayPal. The Wall Street Journal reported Sunday that the proposal landed while Lores was reorganizing PayPal and pursuing at least $1.5 billion in cost reductions.…
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