Deals
Elliott Says Urgent Changes Are Needed at eBay in Letter to Board
- Activist investor says Ebay could potentially double in value
- Starboard also reportedly talking to EBay for months: WSJ
This article is for subscribers only.
Less than four years after EBay Inc. split from PayPal with a promise of reinventing itself to compete in the age of Amazon, investors are circling the online marketplace and pushing for it to break apart further and sell the pieces.
Billionaire Paul Singer’s Elliott Management Corp. sent a letter Tuesday to the board of EBay outlining steps it says are “urgently needed.” Elliott, which owns more than 4 percent of EBay, proposed a five-step plan that involves reviewing EBay’s portfolio of companies, including StubHub, revitalizing the company’s marketplace and buying back shares.