Streep and Advent Capital are rumored to be planning to acquire Pay Pal for US$53 billion. Pay Pal surged 15% before the market opened
News broke on Wednesday that payment company Streep and private equity firm Advent Capital planned to jointly acquire PayPal in a deal worth $53 billion. Affected by this news, PayPal's stock price rose sharply before the market opened. Payments company Streep and private equity giant Advent Capital plan to acquire PayPal for $60.50 per share, Reuters reported on Wednesday, citing two people familiar with the matter, in a deal that would value PayPal overall at more than $53 billion. PayPal's latest pre-market share price rose 15% following the news.