|Wed Feb 5 2020 11:41:15|
eBay Gets Wall Street Attention on Tuesday
By: Ina Steiner
eBay got attention from Wall Street on Tuesday on two fronts.
Activist investor Starboard Value LP stepped up pressure on eBay to move faster to separate its eBay Classifieds Group and to cut eBay Marketplaces costs, as we reported in Newsflash
eBay responded by issuing a statement of its own in which it said it was "taking all appropriate steps to drive the value of the Company," as we reported in a follow-up article
Then came a rumor that eBay had been courted by a company that wished to buy it. The Wall Street Journal tweeted
the following on Tuesday: "Breaking: NYSE owner Intercontinental Exchange made an offer for eBay that could value the company at more than $30 billion, say people familiar with the matter."
"ICE approached eBay to explore a range of potential opportunities that might create value for the shareholders of both companies. eBay has not engaged in a meaningful way. We are not in negotiations regarding the sale of all or part of eBay.
"Over ICE's 20-year history, the company's track record of creating shareholder value, both through organic growth and acquisitions, speaks for itself. ICE does look to explore potential opportunities that it expects will deliver enhanced shareholder value, and will continue to do so in the future."
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