Stripe and private equity firm Advent International have submitted a joint proposal to acquire PayPal Holdings Inc. for $60.50 per share, valuing the U.S. payments company at more than $53 billion. The offer, made earlier this month, represents a 28% premium to PayPal’s July 14 closing price and is backed by about $50 billion in committed financing from a consortium of banks. Stripe and Advent would each hold equal stakes in PayPal and are not proposing a breakup of its business units. As of July 16, PayPal has not formally responded, and there is no certainty a transaction will be completed.

Prepared by Christopher Adams and reviewed by editorial team.