(Bloomberg) — Bill Holdings Inc., the business-payments firm under pressure from activist investor Starboard Value LP, is exploring options including a potential sale, people familiar with the matter said.
The San Jose, California-based company is working with a financial adviser to solicit interest from larger industry rivals as well as private equity firms, according to the people, who asked to not be identified because the details are private.
Shares in Bill, which jumped as much as 16% Wednesday, were up 12% to $52.28 at 12:39 p.m. in New York trading, giving the company a market value of about $5.24 billion. The stock had previously lost 45% of its value this year.
No final decision has been made and Bill could opt to remain independent, the people said. A representative for Bill didn’t respond to a request for comment.
Bill, which handles payments and expense-management services for hundreds of thousands of small and midsize businesses, has been grappling with lower customer-spending and intense competition.
Starboard, run by Jeff Smith, entered a cooperation agreement with Bill in October after disclosing a stake earlier this year. Bill appointed four new independent directors, including one Starboard pick, and said it would hold an investor day in the first half of 2026.
Bill is exploring options amid a period of steady consolidation across the payments sector, where large players and buyout firms have been snapping up smaller firms. Global Payments Inc. agreed to buy Worldpay for more than $24 billion in April, in one of the sector’s biggest-ever transactions.
–With assistance from Jenny Surane.
(Updates with shares in third paragraph.)
More stories like this are available on bloomberg.com
©2025 Bloomberg L.P.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It'll just take a moment.