The company Stripe and the private investment firm Advent International have put forward a joint offer to acquire PayPal Holdings at a price of $60.50 per share. This deal values the payment company at over $53 billion.
The offer, submitted at the beginning of this month, is backed by approximately $50 billion in committed financing from banks. This proposal represents a premium of about 28% over PayPal's closing stock price on Tuesday.
Sources familiar with the matter declined to disclose their names as the discussion regarding the deal is confidential. Parties from PayPal, Stripe, and Advent did not comment on this offer. Previously, an initial inquiry was made in early April, but sources added that Stripe and Advent have not yet received a response from PayPal and intend to advance discussions in the coming weeks.
According to the proposal, Stripe and Advent would jointly own PayPal, with each party holding an equal stake, rather than breaking up the company. Nevertheless, there is uncertainty as to whether this approach will lead to a finalized deal. Until now, PayPal's shares have risen by 16.2% in pre-market trading.
PayPal, founded in the late 1990s, was one of the first participants in the digital payments market. However, the company has faced increasing competition as consumers began using alternative payment methods, and competitors such as Apple Pay and Google Pay have increased their market share.
In recent years, the company has struggled with slowing growth and intensifying competition in the digital payments sector, leading to a loss of a significant portion of the value gained during the pandemic. The company's market capitalization peaked at around $360 billion in 2021 and has fallen to approximately $36 billion this year, representing a loss of over 40% of its market value in the last 12 months.
Since taking office in March, PayPal CEO Enrique Lopez has initiated a large-scale transformation process aimed at simplifying the payment provider and increasing focus on growth. In April, the company divided its operations into three segments: checkout, consumer financial services Venmo, and payments and cryptocurrencies, while also making several personnel changes.
The potential deal with PayPal, if completed, would be part of recent merger and acquisition activity in the global payments sector. Buyers are actively seeking targets amid rapid changes in fintech and the rise of artificial intelligence. Payment companies are also striving for scaling through M&A, as well as gaining access to faster-growing segments such as cross-border and corporate payments, against the backdrop of slowing traditional payment processing growth.
In 2025, Global Payments agreed to acquire competitor Worldpay from FIS and private equity firm GTCR in a complex three-way deal worth $24.2 billion. As part of this transaction, GTCR sold its 55% stake, and FIS exited its remaining 45% stake.
The sector is also showing a steady stream of smaller deals, including the acquisition of Payoneer Global by Canadian payment firm Nuvei for $2.7 billion. Nuvei is supported by Advent International and other private equity firms.
Mastercard is considering selling a controlling stake in its British payment subsidiary Vocalink back to British banks in response to concerns about critical assets being held by US entities, as reported by the Financial Times this week. PayPal's revenues grew by 7%, reaching $8.35 billion in the first quarter, exceeding the average analyst estimate of $8.05 billion. On a currency-neutral basis, total payment volume increased by 8% compared to the previous year, reaching approximately $464 billion.
Lopez outlined plans for May to utilize AI to optimize operations across the company and eliminate workforce redundancies, but provided no further details. The company stated that these initiatives would save about $1.5 billion over the next two to three years and also announced that these funds would be reinvested to stimulate new growth.
Stripe, which is a private company, is among the most valuable companies in the industry. In February, it was valued at $159 billion in a tender offer for employees and shareholders, more than 70% higher than a similar stock sale the previous year. The company, headquartered in San Francisco and Dublin, enables businesses to accept payments, make payouts, and automate financial processes.
Ford has implemented a new electronic security mechanism that prevents certain vehicles from being started, even if the intruder possesses a legitimate key. This feature, called Start Inhibit, allows the owner to remotely lock the ignition through the manufacturer's application.
When activated via the app, the system requires that the start be released only through the owner's own mobile phone or by entering an exclusive PIN code on the vehicle's multimedia center. Essentially, it operates as a 'kill switch,' preventing the engine from running while the lock is active, even if the original key is in the criminal's possession.
Ford demonstrated this functionality in Oakville, Canada. During the demonstration, Ian Grotenhuis, a manufacturer representative, showed a Lincoln Navigator that was locked by the app and could not ignite. The company states its goal is to stay ahead of thieves but acknowledges that new methods of action may emerge.
Start Inhibit is part of the Ford Security Package, which has a corresponding version in the luxury Lincoln line. In addition to ignition locking, this package offers intrusion alerts—sending notifications to the mobile phone in cases of movement, towing, or door opening—and the Stolen Vehicle Services, which provides 24-hour tracking and recovery in collaboration with law enforcement.
This measure comes in response to the high incidence of theft of popular models, such as the F-150 pickup, which is among the most stolen vehicles in the United States, alongside Hyundai and Kia cars. However, availability is limited: the feature is present in specific versions of the F-150 and Super Duty pickups starting from the 2024 model year (with the exception of the F-150 Lightning, F-650, and F-750), as well as the 2026 Expedition, Bronco Sport, and Mustang Mach-E. In the Lincoln line, it covers the 2026 Navigator.
One aspect that generates debate is the associated charge. In the United States, the package is offered through a monthly subscription starting at US$7.99, although it includes a one-year complimentary period for eligible models. Ford itself admits that the service may be less relevant for those who park in private condominium garages, being more advantageous for those who use public roads.
For those who choose not to subscribe to the paid service, Ford reminds them that traditional protection methods exist, such as using steering wheel locks, the habit of never leaving the vehicle running unattended, and using independent trackers, such as a hidden Apple AirTag in the car.
The Financial Sector Conduct Authority (FSCA) has announced the start of an investigation into serious governance issues concerning the Public Investment Corporation (PIC), which manages the pension savings of public servants amounting to approximately R3.6 trillion.
The FSCA stated that it will conduct a review because PIC management suspended its CEO, Patrick Dlamini, as a precautionary measure. This decision was made after receiving a tip-off. On Wednesday, the FSCA expressed growing concern over recent events at PIC, particularly those related to governance, leadership stability, transparency, and the potential impact of these changes on confidence in one of South Africa's key financial institutions.
The FSCA emphasized that PIC holds a 'unique and critical' position in South Africa's financial system. As the country's largest asset manager and custodian of significant public sector savings, PIC bears heightened responsibility for maintaining the highest standards of governance, integrity, accountability, and conduct. The FSCA noted that recent events call into question the consistent adherence to these standards.
The FSCA decided to launch an investigation after becoming aware of whistleblower reports and the suspension of the Chief Executive Officer. This investigation followed widespread concern expressed by trade unions, civil society, and other organizations this week. The concern arose after PIC made the unexpected decision to suspend Patrick Dlamini as a precaution, allowing him time to respond to allegations of misconduct presented to the PIC board in a whistleblower report last month.
PIC's management is currently facing several issues. These include how PIC handled an investment in Lanseria Airport made over ten years ago; the forensic audit by PwC requested by Dlamini; the referral of aspects of this matter by PIC Chairperson and Deputy Minister of Finance David Masondo to the Special Investigating Unit (SIU); and a lawsuit filed by businessman Kagiso Matjila against Dlamini for R900 million in the High Court regarding the appointment of PwC to investigate the Lanseria dispute after the final arbitration award was paid.
Meanwhile, the PIC board provided the FSCA with all necessary information and documentation requested in connection with the whistleblower report and the relevant governance process. Following Dlamini's temporary suspension, PIC appointed its CFO, Batandwu Damoyi, as interim CEO with immediate effect. The PIC board stated that institutions such as the FSCA and PIC share responsibility for protecting the pension savings of millions of South Africans through sound governance, accountability, and transparency.
The board also noted that both the previous and current boards prioritized strengthening governance and implementing the recommendations of the Mphati Commission. Previously, when answering parliamentary questions in 2024 and 2025, Finance Minister Enoch Godongwana asserted that PIC had completed the implementation of the Mphati Commission report recommendations aimed at addressing governance, operational, and ethical shortcomings within the organization. Godongwana added that the implementation of these recommendations corrected the identified deficiencies. The PIC board concluded that despite ongoing challenges, the corporation has made significant progress in strengthening its governance system and oversight processes. It also affirmed its full commitment to cooperating with all regulators and ensuring governance matters are resolved through independent, credible, and transparent processes.
HDFC Bank, India's largest private sector lender, announced on Wednesday that it has received approval from the Reserve Bank of India (RBI) to appoint former Chief Election Commissioner Rajiv Kumar as the bank's interim chairman for a three-year term, starting July 15.
Kumar is expected to attend his first board meeting on July 18, where the board will review the bank's financial results for the first quarter of the 2027 fiscal year. One of the immediate priorities for Kumar as chairman will be to lead the board discussion on the reappointment of Managing Director and CEO Sashidhar Jagdishan.
In regulatory filings, the bank expressed gratitude to Keki Mistry, who served as interim chairman after Atanu Chakraborty's departure in March. HDFC Bank stated: 'The bank records its sincere appreciation for Mr. Keki Mistry for his valuable leadership and contribution during his tenure as the bank's interim chairman. Mr. Mistry continues to be a non-executive, non-independent director of the bank.'
Last month, the bank's board approved Kumar's appointment as interim chairman for three years, subject to RBI approval. Furthermore, his acceptance as an additional independent director for four years was approved, which required shareholder approval.
Kumar, aged 66, is a retired officer of the Indian Administrative Service (IAS). He served as the Chief Election Commissioner from May 2022 to February 2025. Prior to that, he worked as Financial Secretary and Secretary of the Department of Financial Services before retiring from government service in February 2020.
