Share

Elliott pushes for changes at eBay

 By The Associated Press  January 22, 2019 at 9:37am
Share

NEW YORK (AP) — An activist shareholder said Tuesday that eBay would be better off without StubHub or its classified ads businesses.

Elliott Management, which owns more than 4 percent of its stock, said in a letter to eBay that if it focused on its online marketplace, the company could double its share price to more than $63 by the end of next year.

Shares of eBay Inc. jumped 8 percent in midday trading.

In a statement from its headquarters in San Jose, California, eBay said it will “carefully review and evaluate Elliott’s proposals.”

Elliott believes eBay’s classifieds business has a potential value of $8 billion to $12 billion, and put StubHub’s value between $3.5 billion and $4.5 billion.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
Share
The Associated Press
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




At Least 20 Dead After River Ferry Sinks: 'It's a Horrible Day'
US Judge Tosses Lawsuits Against Former Military Commander Accused of War Crimes
Kobe Bryant's Widow Gives Huge Gift to LA Team on Anniversary of His Last Game
Young Girl Dead, Boys 1 and 8 Listed in Critical Condition After Unthinkable US Shooting: 'Not a Random Act of Violence'
Dead Whale Found Washed Up on US Shore - Disturbing Injuries Found on the Massive Animal
See more...

Conversation