$PayPal(PYPL)$ shares surged nearly 14% in overnight trading after reports that payment company Stripe and private equity firm Advent International have submitted a joint offer to acquire PayPal for $60.50 per share, according to Reuters.
Two sources familiar with the matter said the offer, submitted earlier this month, has secured approximately $50 billion in bank commitments, representing a premium of about 28% over PayPal's closing price on Tuesday.
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