Stripe and Advent Jointly Bid $53.4B to Acquire PayPal

Stripe and private equity firm Advent International have reportedly submitted a $53.4 billion joint bid to acquire PayPal, backed by roughly $50 billion in committed bank financing. The offer, made earlier this month, would see Stripe and Advent jointly own the payments giant. The deal would combine Stripe's modern payments infrastructure with PayPal's massive user base.