PayPal Holdings stock surged by 14% following reports of a takeover offer that values the company at over $53 billion. This price boost comes after a challenging year for PayPal, with shares having declined by 35% over the previous 12 months.

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PayPal Stock Jumps 14% on Report of $53 Billion Takeover Bid

By Adam Clark

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PayPal shares have fallen 35% over the past 12 months coming into Wednesday's session. (Courtesy PayPal)

PayPalHoldings stock was rising sharply early Wednesday following a report it has received a takeover offer valuing the payments company at more than $53 billion.

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