On July 16 (local time), individuals with inside knowledge of the situation revealed that PayPal's board of directors is of the opinion that the acquisition proposal, which values the company at around $53 billion and is put forward by Stripe along with private equity firm Advent International, significantly undervalues PayPal. Moreover, they pointed out that the deal is fraught with hurdles, including obtaining regulatory approval and securing financing. Two additional sources mentioned that PayPal has not issued a formal response to this proposal as of yet, and the prospects of the two parties reaching an agreement in the near future appear slim.