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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.