EBay Dismisses PayPal Spinoff As Icahn Calls For Vote

Law360, New York (January 23, 2014, 1:15 PM EST) -- EBay Inc. has said it has no plans to split off its moneymaking PayPal Inc. unit, but billionaire activist Carl Icahn intensified his push for such a move Thursday when he called for a nonbinding shareholder vote on a proposed spinoff.

Revealing Icahn's approach in a Wednesday earnings report, eBay said its board has already independently explored its online payment unit's prospects as a standalone business, affirming that it would fight to keep it part of the larger company. The California company bought PayPal, a market-leading...
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