Payments network operator PayPal (PYPL) saw its stock drop sharply after a consortium of buyout firm Advent International and payment processor Stripe walked away from a $53 billion (or $60.50 per share) bid after being rebuffed.
Now, PayPal has been embroiled in rumors of another takeover bid. Traders reported that an “uncooked” alert from Betaville suggested a U.S. technology company headquartered on the West Coast could be considering an all-stock acquisition of the fintech company. Reportedly, PayPal is looking for an all-cash offer. While nothing is confirmed, PayPal might not accept an offer that is not meaningfully above $70 per share, as Bernstein analysts estimate.