EBay Reaffirms Opposition To PayPal Spinoff

Law360, New York (March 25, 2014, 12:41 PM EDT) -- EBay Inc. on Tuesday firmed up its opposition to Carl Icahn's effort to spin off a portion of its money-making PayPal Inc. unit, urging shareholders to vote down the proposal in order to preserve long-term value and growth potential for both operations.

In a letter to shareholders, California-based eBay again derided a plan unveiled by the billionaire activist investor last week that would unload a 20 percent stake in PayPal in an initial public offering. The proposal comes after Icahn scrapped calls to completely spin out...
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