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Enrique Lores walked into the Goldman Sachs Communacopia & Tech Conference with a turnaround blueprint, not a deal.
PayPal's (PYPL) board had already rejected a reported $53 billion offer from Stripe (STRI.PVT) and private equity firm Advent International in late August, a bid that reportedly valued shares at $60.50 against a board floor speculated at $70.
The stock has since slipped to $53.20, and Lores is publicly committed to executing a standalone plan.
The case for the standalone The plan starts with a $1.5 billion run-rate cost-savings target and a $6 billion share repurchase program.
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