The proposed package, being negotiated with Apollo's sports investing unit, would comprise mostly debt alongside some equity. Part of the proceeds would refinance existing borrowings, with the remainder earmarked for growth opportunities. Deliberations remain ongoing, and no final decisions on the size or structure have been made.

A consortium is offering $60.50 a share for PayPal, a premium of roughly 28% to Tuesday's closing price, in what would rank among the largest take-private bids of the year. The proposal is unusually well funded, with around $50bn in committed financing from banks, following an initial overture in April.

Beyond the founding partners, the investor group spans Goldman Sachs, General Atlantic, Leonard Green & Partners, Apollo Global Management, GIC, and Sequoia Capital, giving the venture unusually deep pockets. Ode pairs Anthropic's frontier models with experienced engineers to help companies embed AI in daily operations.