<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251112_2111_Financial-Growth-Illustration_simple_compose_01k9wbjbgseh7bk1bt0s3bhdn1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251112_2111_Financial-Growth-Illustration_simple_compose_01k9wbjbgseh7bk1bt0s3bhdn1.png"/></p>
<p>比爾控股公司（Bill Holdings Inc.）的股票在週三上漲，此前位於聖荷西的商業支付平台正在探索戰略選擇，包括潛在的出售，因為它面臨來自激進投資者 Starboard Value LP 的壓力，彭博社援引知情人士的報道。</p>
<p>據報道，該公司已聘請財務顧問，以評估來自大型行業參與者和私募股權公司的興趣。</p>
<p>雖然尚未做出最終決定，但這些討論表明，比爾正在評估為股東解鎖價值的方式，此前其股價在今年大幅下跌。</p>
<p>該公司在 2025 年損失了約 45% 的市值，使其市值約為 47 億美元。</p>
<p>然而，該股上漲了 15.3%，至 53.7 美元，創下自 8 月以來的最佳表現。</p>
<p>該公司為中小型企業提供支付和費用管理服務，正面臨客户支出減少和競爭加劇的挑戰。</p>
<h2>Starboard 的影響和治理變更</h2>
<p>比爾的戰略審查緊隨 Starboard Value 的激進投資者 Jeff Smith 在今年早些時候披露其在該公司的股份，並在 10 月達成合作協議。</p>
<p>根據協議，比爾在其董事會中增加了四名新的獨立董事，其中一名由 Starboard 選定，並承諾在 2026 年上半年舉行投資者日。</p>
<p>Starboard 的參與反映了投資者對比爾的業績和增長軌跡的廣泛擔憂。</p>
<p>該公司於 2019 年底上市，首日交易上漲 61%，但自那以來股價已大幅回落。</p>
<p>該股在 2021 年 11 月 8 日創下 348.50 美元的歷史最高盤中價，但今年以來已下跌超過 37%，即使在週三反彈之後。</p>
<p>該公司的下滑與高增長科技和金融科技公司面臨的更廣泛壓力相呼應，這些公司在疫情期間迅速增長，但此後在盈利能力和競爭動態方面苦苦掙扎。</p>
<h2>支付行業出現日益增加的整合</h2>
<p>比爾探索出售的背景是全球支付行業合併活動的增加，因為大型參與者和私募股權公司尋求整合較小的競爭對手。</p>
<p>在該行業最近最大的交易之一中，Global Payments Inc.於 4 月同意以超過 240 億美元收購 Worldpay。</p>
<p>行業觀察人士表示，比爾可能會吸引尋求擴大其小型企業支付業務的戰略買家和押注於反彈的金融贊助商的興趣。</p>
<p>然而，任何潛在交易的條款、估值和結構仍不明確，該公司仍可能決定保持獨立。</p>
<p>Starboard 對比爾的參與是對沖基金更廣泛的激進推動的一部分。</p>
<p>該公司最近披露了對 Tripadvisor 和 Qorvo 等公司的股份，後者宣佈計劃與 Skyworks Solutions 合併，形成一家預計在 2027 年完成的 220 億美元的無線電芯片公司。</p>
<p>雖然尚不確定比爾是否會追求出售或繼續獨立，但此次審查突顯了在市場條件變化下對錶現不佳的金融科技公司的日益關注。</p>
<p>隨着激進投資者施壓以改善運營，行業同行也在整合，比爾的下一步行動將可能受到股東和競爭對手的密切關注。</p>
<p>比爾控股在公司探索出售的報道後上漲 13% 的文章最初出現在 Invezz 上。</p>

BILL

<p>比爾控股公司（Bill Holdings Inc.）的股票在有報道稱該公司正在探索戰略選擇，包括潛在的出售，受到激進投資者 Starboard Value LP 的壓力後，股價上漲了 13%。該公司已聘請財務顧問評估來自更大行業參與者和私募股權公司的興趣。比爾的股票今年已下跌 45%，但近期的討論表明公司正在努力釋放股東價值。支付行業正經歷日益加劇的整合，比爾的戰略審查反映了投資者對其業績和增長軌跡的廣泛擔憂</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251112_2111_Financial-Growth-Illustration_simple_compose_01k9wbjbgseh7bk1bt0s3bhdn1.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/11/20251112_2111_Financial-Growth-Illustration_simple_compose_01k9wbjbgseh7bk1bt0s3bhdn1.png"/></p>
<p>Bill Holdings Inc. stock gained on Wednesday after the San Jose–based business-payments platform was exploring strategic options, including a potential sale, as it faces mounting pressure from activist investor Starboard Value LP, reported Bloomberg, citing people familiar with the matter.</p>
<div class="lb-trans"><p>比爾控股公司（Bill Holdings Inc.）的股票在週三上漲，此前位於聖荷西的商業支付平台正在探索戰略選擇，包括潛在的出售，因為它面臨來自激進投資者 Starboard Value LP 的壓力，彭博社援引知情人士的報道。</p>
</div><p>The company has reportedly engaged a financial adviser to gauge interest from both larger industry players and private equity firms.</p>
<div class="lb-trans"><p>據報道，該公司已聘請財務顧問，以評估來自大型行業參與者和私募股權公司的興趣。</p>
</div><p>While no final decision has been made, the discussions signal that Bill is assessing ways to unlock value for shareholders following a sharp decline in its stock price this year.</p>
<div class="lb-trans"><p>雖然尚未做出最終決定，但這些討論表明，比爾正在評估為股東解鎖價值的方式，此前其股價在今年大幅下跌。</p>
</div><p>Shares have lost about 45% of their value in 2025, leaving the company with a market capitalization of roughly $4.7 billion.</p>
<div class="lb-trans"><p>該公司在 2025 年損失了約 45% 的市值，使其市值約為 47 億美元。</p>
</div><p>However, the stock climbed 15.3% to $53.7, marking its best day since August.</p>
<div class="lb-trans"><p>然而，該股上漲了 15.3%，至 53.7 美元，創下自 8 月以來的最佳表現。</p>
</div><p>The company, which provides payments and expense-management services for small and mid-sized businesses, has been grappling with lower customer spending and heightened competition in a consolidating sector.</p>
<div class="lb-trans"><p>該公司為中小型企業提供支付和費用管理服務，正面臨客户支出減少和競爭加劇的挑戰。</p>
</div><h2>Starboard’s influence and governance changes</h2>
<div class="lb-trans"><h2>Starboard 的影響和治理變更</h2>
</div><p>Bill’s strategic review comes shortly after Starboard Value, the activist investor led by Jeff Smith, disclosed a stake in the company earlier this year and entered into a cooperation agreement in October.</p>
<div class="lb-trans"><p>比爾的戰略審查緊隨 Starboard Value 的激進投資者 Jeff Smith 在今年早些時候披露其在該公司的股份，並在 10 月達成合作協議。</p>
</div><p>Under the deal, Bill added four new independent directors to its board, including one selected by Starboard, and committed to holding an investor day in the first half of 2026.</p>
<div class="lb-trans"><p>根據協議，比爾在其董事會中增加了四名新的獨立董事，其中一名由 Starboard 選定，並承諾在 2026 年上半年舉行投資者日。</p>
</div><p>Starboard’s involvement reflects broader investor unease about Bill’s performance and growth trajectory.</p>
<div class="lb-trans"><p>Starboard 的參與反映了投資者對比爾的業績和增長軌跡的廣泛擔憂。</p>
</div><p>Shares of the company, which went public in late 2019 with a strong debut, rising 61% on its first trading day, have since retreated significantly from their highs.</p>
<div class="lb-trans"><p>該公司於 2019 年底上市，首日交易上漲 61%，但自那以來股價已大幅回落。</p>
</div><p>The stock reached an all-time intraday high of $348.50 on November 8, 2021, but has since fallen more than 37% this year, even after Wednesday’s rebound.</p>
<div class="lb-trans"><p>該股在 2021 年 11 月 8 日創下 348.50 美元的歷史最高盤中價，但今年以來已下跌超過 37%，即使在週三反彈之後。</p>
</div><p>The company’s decline has mirrored broader pressure on high-growth technology and fintech names that soared during the pandemic but have since struggled with profitability and competitive dynamics.</p>
<div class="lb-trans"><p>該公司的下滑與高增長科技和金融科技公司面臨的更廣泛壓力相呼應，這些公司在疫情期間迅速增長，但此後在盈利能力和競爭動態方面苦苦掙扎。</p>
</div><h2>Payments sector sees rising consolidation</h2>
<div class="lb-trans"><h2>支付行業出現日益增加的整合</h2>
</div><p>Bill’s exploration of a sale comes amid increased merger activity across the global payments industry, as large players and private-equity firms look to consolidate smaller competitors.</p>
<div class="lb-trans"><p>比爾探索出售的背景是全球支付行業合併活動的增加，因為大型參與者和私募股權公司尋求整合較小的競爭對手。</p>
</div><p>In one of the sector’s biggest recent deals, Global Payments Inc. agreed in April to acquire Worldpay for more than $24 billion.</p>
<div class="lb-trans"><p>在該行業最近最大的交易之一中，Global Payments Inc.於 4 月同意以超過 240 億美元收購 Worldpay。</p>
</div><p>Industry observers say Bill could attract interest from both strategic buyers seeking to expand their small-business payments footprint and financial sponsors betting on a turnaround.</p>
<div class="lb-trans"><p>行業觀察人士表示，比爾可能會吸引尋求擴大其小型企業支付業務的戰略買家和押注於反彈的金融贊助商的興趣。</p>
</div><p>However, the terms, valuation, and structure of any potential deal remain unclear, and the company could still decide to remain independent.</p>
<div class="lb-trans"><p>然而，任何潛在交易的條款、估值和結構仍不明確，該公司仍可能決定保持獨立。</p>
</div><p>Starboard’s involvement in Bill is part of a broader activist push by the hedge fund.</p>
<div class="lb-trans"><p>Starboard 對比爾的參與是對沖基金更廣泛的激進推動的一部分。</p>
</div><p>The firm recently disclosed stakes in companies including Tripadvisor and Qorvo, the latter of which announced plans to merge with Skyworks Solutions, creating a $22 billion radio-chip company expected to close in 2027.</p>
<div class="lb-trans"><p>該公司最近披露了對 Tripadvisor 和 Qorvo 等公司的股份，後者宣佈計劃與 Skyworks Solutions 合併，形成一家預計在 2027 年完成的 220 億美元的無線電芯片公司。</p>
</div><p>While it remains uncertain whether Bill will pursue a sale or continue independently, the review highlights the growing scrutiny of underperforming fintech firms amid changing market conditions.</p>
<div class="lb-trans"><p>雖然尚不確定比爾是否會追求出售或繼續獨立，但此次審查突顯了在市場條件變化下對錶現不佳的金融科技公司的日益關注。</p>
</div><p>With activist investors pressing for operational improvements and industry peers consolidating, Bill’s next move will likely be closely watched by both shareholders and competitors.</p>
<div class="lb-trans"><p>隨着激進投資者施壓以改善運營，行業同行也在整合，比爾的下一步行動將可能受到股東和競爭對手的密切關注。</p>
</div><p>The post Bill Holdings surge 13% after reports of company exploring a sale appeared first on Invezz</p>
<div class="lb-trans"><p>比爾控股在公司探索出售的報道後上漲 13% 的文章最初出現在 Invezz 上。</p>
</div>

在有報道稱 BILL Holdings 正在探索出售後，其股價上漲了 13%