Stripe and private-equity firm Advent International have jointly offered $60.50 a share — more than $53 billion — to buy PayPal, backed by roughly $50 billion in committed bank financing, according to a Reuters report.

The offer values PayPal about 28% above its last close. Stripe and Advent would take equal stakes and keep the business whole, folding PayPal’s PYUSD stablecoin and payments network into Stripe. Neither company has confirmed the talks, and a tie-up of this scale would face heavy antitrust scrutiny in both the US and Europe before it could close.