Elliott pushes for changes at eBay
Posted Jan 22, 2019 10:59:15 AM.
This article is more than 5 years old.
NEW YORK — An activist shareholder says eBay would be better off without StubHub or its classified ads businesses.
Elliott Management, which owns more than 4 per cent of its stock, said in a letter to eBay that if it focused on its online marketplace, it could push its share price, which had been trading for around $30, to $55 or even more than $63 by the end of next year.
In early trading Tuesday, shares of eBay Inc. jumped 9 per cent.
Elliott believes the Classifieds business has a potential value of $8 billion to $12 billion, with StubHub’s value at $3.5 billion to $4.5 billion.
The Associated Press
