Uncategorized
EBay shares pop on report Intercontinental Exchange made takeover offer
eBay’s headquarters in San Jose, California, U.S.Bloomberg | Getty ImagesShares of eBay surged more than 7.6% on Tuesday after The Wall Street Journal reported that the Intercontinental Exchange (ICE) has made a bid to acquire eBay’s marketplace business. ICE shares fell as much as 5.4% on the news.The companies aren’t in formal talks about a…
eBay's headquarters in San Jose, California, U.S.
Bloomberg | Getty Images
Shares of eBay surged more than 7.6% on Tuesday after The Wall Street Journal reported that the Intercontinental Exchange (ICE) has made a bid to acquire eBay's marketplace business. ICE shares fell as much as 5.4% on the news.
The companies aren't in formal talks about a possible takeover and there's no guarantee eBay will choose to pursue any deal, the Journal reported. The deal could value eBay at roughly $30 billion, according to the Journal. EBay's market cap stood at more than $28 billion as of Tuesday afternoon.
A spokesperson from ICE told CNBC in a statement: “It's ICE's policy not to comment on rumors or speculation related to M&A.”
An eBay spokesperson declined to comment.
ICE has approached eBay about owning the company's online marketplace, not its classifieds business, the Journal reported.
Earlier on Tuesday, hedge fund Starboard Value called for eBay to sell its classifieds business, saying it would allow the company to focus on growing the marketplace business. EBay said it would consider Starboard's “letter and perspectives” as it reviews future opportunities for “growth and value creation.”
— CNBC's Bob Pisani contributed to this report.
Subscribe to Centenunlimited news
We hate SPAM and promise to keep your email address safe
