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Intercontinental Exchange Targets eBay Acquisition: WSJ

Intercontinental Exchange Targets eBay Acquisition: WSJ

Enterprise & IT Feb 4,2020 0

Intercontinental Exchange Inc, owner of the New York Stock Exchange, has made an offer to buy eBay Inc in a deal that could value the ecommerce company at more than $30 billion, the Wall Street Journal reported on Tuesday.

The companies aren't currently in formal talks and there is no guarantee eBay would agree to a deal, the report here said, citing people familiar with the matter.

ICE is primarily interested in eBay’s marketplace business, and not its classified unit, which eBay has been considering selling, the report said.

Both ICE and eBay declined to comment.

Earlier today, activist shareholder Starboard Value LP piled more pressure on eBay to sell the classifieds business, saying the company had not made enough progress to improve shareholder value.

“To achieve the optimal outcome, we believe Classifieds must be separated, and a more comprehensive and aggressive operating plan must be put in place to drive profitable growth in the core Marketplace business,” Starboard said in a letter to eBay’s board.

EBay said it "remains open to all value-enhancing opportunities."

Tags: eBay
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