KEY BACKGROUND
PayPal has struggled with slowing growth and competition from Apple Pay, Google Pay and other payment platforms. In response, the company in recent years has made changes to its management, reduced its workforce and cut costs in an attempt to revive profitability. The stock had climbed nearly 30% since news of Stripe and Advent’s efforts broke in July, and is now trading well below the $60.50 reported per-share offer, which valued PayPal at over $53 billion. The Wall Street Journal had previously reported that PayPal thought the offer was insufficient, and the parties were negotiating the price.
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BIG NUMBER
$356 billion. That was Paypal’s approximate peak market valuation during the pandemic-driven stock boom in 2021, compared with the roughly $53 billion reported takeover offer.
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FURTHER READING
ForbesPayPal Stock Jumped On A Bid. But Is It Really A Win?By Jim Osman