paypal stock: PayPal stock jumps over 7% after reports say Stripe may plan takeover
Stripe has expressed early interest in the potential deal, but talks are still in their early stages, people familiar with the situation said. These sources did not want their names to be shared because the talks were private and confidential. The report also stated that there is no guarantee that the talks will result in an actual deal or acquisition, according to Bloomberg.
PayPal share acquisition news
Stripe is a private payments company and is considered one of the most valuable fintech firms in the industry today. According to Investing.com, Stripe has grown very quickly in recent years and competes directly with PayPal in online payment processing.
News of this possible takeover comes just a day after another report stated that PayPal had received interest from possible buyers, including a major rival company, according to Investing.com. It’s still unclear whether Stripe is the same competitor mentioned in the previous acquisition interest report. The sudden rise in PayPal shares occurred as investors reacted quickly to takeover rumors and started buying shares.
Why did PayPal shares rise?
Stripe declined to make any official comment on the reports, and PayPal also did not immediately respond to requests for comment, according to Bloomberg. Experts say the situation is still uncertain and it may take time to become clear whether the acquisition will actually take place.
FAQ
Q1. Why did PayPal shares suddenly rise?
PayPal shares rose following reports that Stripe may consider acquiring PayPal.
Q2. Is Stripe really buying PayPal now?
No, the talks are only preliminary and a deal has not been confirmed yet.
