Business Payments Firm Bill Holdings Is Said to Explore Sale (1)

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 have lost 45% of their value this year, giving the company a market value of about $4.7 billion. The stock was up 13% in pre-market New York trading on ...