ChainThink News, July 15: According to Reuters, payment processor Stripe has jointly submitted a takeover bid with private equity firm Advent International to PayPal Holdings (PYPL.O), offering $60.50 per share, valuing the company at over $53 billion.

The offer represents approximately a 28% premium over PayPal’s closing price on Tuesday and is backed by around $50 billion in committed bank financing. The proposed transaction contemplates equal 50% ownership stakes for both parties post-transaction, with no corporate divestiture planned.

The acquisition proposal was submitted earlier this month, following initial discussions in early April. PayPal has not yet responded. Stripe and Advent aim to finalize an agreement by month-end, though the deal’s closure remains uncertain.