PayPal CEO says open to acquisitions but remains committed to independent growth strategy

Golden Finance, July 29 – PayPal CEO Enrique Lores stated that he does not rule out the possibility of accepting an acquisition. During the second quarter earnings call, Lores said: "We believe that executing the transformation strategy I outlined will create considerable value for shareholders. At the same time, we remain open and objective in evaluating various opportunities. If we find certain paths or approaches that can deliver greater value to shareholders than our current strategy, we will, of course, consider them carefully." Although his wording was cautious, the meaning is clear: if a higher offer is made, the Board of Directors is willing to seriously consider it. According to reports, Block initially approached PayPal together with Stripe and Advent International in April this year, but withdrew before finally submitting the $60.5-per-share offer. Currently, only Stripe and Advent International remain as bidders.