PayPal Holdings is intensifying its cost-reduction efforts and raising its annual financial targets in a strategic move to defend against an unsolicited acquisition proposal.
The payments processor aims to drive its share price higher, making a takeover less attractive to the bidding consortium.
50 per share, a valuation that places the business at more than $53 billion.
The defensive maneuver comes as PayPal faces a joint offer from fintech firm Stripe and private equity group Advent International.
The consortium has proposed to acquire the company for $60.50 per share, a valuation that places the business at more than $53 billion.
By tightening its operational efficiency and improving its financial outlook, PayPal seeks to demonstrate that the current market price undervalues the company's standalone potential.
The acquisition attempt has placed significant pressure on PayPal's board to act decisively.