Elliott pushes for changes at eBay

January 22, 2019 - 9:58 am

NEW YORK (AP) — An activist shareholder says eBay would be better off without StubHub or its classified ads businesses.

Elliott Management, which owns more than 4 percent of its stock, said in a letter to eBay that if it focused on its online marketplace, it could push its share price, which had been trading for around $30, to $55 or even more than $63 by the end of next year.

In early trading Tuesday, shares of eBay Inc. jumped 9 percent.

Elliott believes the Classifieds business has a potential value of $8 billion to $12 billion, with StubHub's value at $3.5 billion to $4.5 billion.

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