Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Carl Icahn Battles eBay Management over Paypal

Lazards Merchant Bank Issues Report On Time Warner

For companies with stakes held by activist investors, it is not often a smooth ride. Carl Icahn bought a substantial amount of eBay’s stock, mainly because he wanted to see eBay spin off Paypal. He nominated two people to the board, but eBay management rejected the appointees and claimed they were “incompetent.” Carl Icahn blasted eBay CEO John Donohoe for his “inexcusable incompetence, ” and said he had issues with the sale of Skype while accusing two eBay board members of serious conflict of interest.

eBay management dismissed Icahn’s claims as a charade, and believes they were intended to drive up the stock price in hopes that Icahn would force a Paypal spin off following his war of words. While Paypal founder Elon Musk says eBay owning Paypal is “like Target owning Visa, ” eBay insists that there are valuable synergies between Paypal and eBay that makes their functioning under one roof more mutually beneficial than if they were separate. It seems that what eBay might think is one thing, what Wall Street might demand is another.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.