Icahn Claims EBay Shareholders Support PayPal Spinoff

Law360, New York (March 6, 2014, 11:46 AM EST) -- Activist investor Carl Icahn stepped up his feud with eBay Inc. on Thursday, issuing a letter blasting the online auction house's "epic blunders" and saying that most shareholders favor separating eBay's multibillion-dollar payment-processing unit PayPal Inc. into a new business.

Icahn cited a Bernstein Research survey that found 55 percent of responding shareholders believed that the board should change and 43 percent said that splitting off eBay is a good move. The billionaire activist said that his company has "not yet even begun to formally reach...
To view the full article, register now.