Stripe and buyout firm Advent International made a joint takeover bid for PayPal Holdings in a deal that would value the fintech company at around $53 billion, according to people familiar with the matter. The approach was made in recent days.

Stripe and Advent proposed paying $60.50 a share for PayPal, about a 30% premium above PayPal's closing price Friday. There are no guarantees PayPal will be receptive.

The company is in the early stages of orchestrating a turnaround under its newly appointed Chief Executive Enrique Lores. PayPal shares have been trading at historic lows after reaching its Covid-era peak of more than $300 a share in 2021, giving the company a market value of more than $280 billion. As of Friday, PayPal was valued at around $42 billion.