PayPal’s board believes a $53bn takeover proposal from payments rival Stripe and private equity firm Advent International undervalues the business, according to a report by Reuters citing unnamed sources familiar with the matter.
The board has yet to formally respond to the unsolicited offer but is assessing both the proposal and the possibility that alternative bidders could emerge alongside management’s existing turnaround strategy.
Sources said directors believe the consortium’s offer of $60....
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