How PayPal went from Wall Street favorite to unwilling merger target

Five years ago PayPal was a Wall Street favorite and a leader in digital payments. Since then the stock has plunged, Apple Pay dominates payment services in the U.S. and PayPal is facing a takeover bid it does not like. What happens next?

The company synonymous with digital payments this past week got a $53 billion offer to be taken private by upstart rival Stripe and buyout shop Advent International. ​PayPal’s board is discussing the bid but believes $60.50 a share is not enough, people familiar with the company said. The board is expected to meet on Monday, said the people familiar with PayPal.