PayPal Holdings IncReports of buyout offers at $60.50 per share, causing stock to surge 17.1%.
Fiserv stock climbed 4.7% amid reports that private companies Stripe and Advent, along with Block, have offered to acquire PayPal for $53 billion, or $60.50 per share. PayPal shares surged 17.1% on the news. Analysts note that Fiserv trades at just 8.4 times trailing earnings and 6.2 times forward earnings, cheaper than PayPal's 8.9 times, with both companies projected to grow earnings at 5.8% annually over the next five years. The similar valuations and growth prospects have fueled speculation that Fiserv could become an attractive takeover target itself.
PayPal Holdings IncReports of buyout offers at $60.50 per share, causing stock to surge 17.1%.
Fiserv, Inc.Speculation that Fiserv could be a buyout target due to cheap valuation and similar growth to PayPal.
Block, IncBlock is mentioned as one of the bidders for PayPal, but no direct impact on Block itself.