Thomas Hayes, Chairman of Great Hill Capital, proposed Meta Platforms Inc. acquire PayPal Holdings Inc. for $90 billion. Hayes stated the deal would be "highly accretive immediately." He added it could save Meta "5-10 years" in building a "super-app." This move could preempt competitors like Elon Musk's X. Hayes believes a $90 billion price represents a significant premium. He stated shareholders would likely accept this price.
This speculation follows PayPal's recent partnership with Meta. The partnership enables shopping and checkout functionalities via Meta's new AI agent, Muse. The buyout suggestion introduces a new narrative for PayPal's stock. The stock has faced performance challenges over the past year. PayPal's stock traded over 1% higher in premarket trading on Wednesday.