Intercontinental Exchange Approaches EBay About a Takeover
February 04 2020 - 2:06PM
Dow Jones News
By Cara Lombardo and Corrie Driebusch
New York Stock Exchange owner Intercontinental Exchange Inc. has
made a takeover offer for eBay Inc. that could value the sprawling
online marketplace at more than $30 billion, according to people
familiar with the matter.
Intercontinental Exchange, known as ICE, has approached eBay in
the past and did so again recently, the people said. The companies
aren't currently in formal talks and there is no guarantee eBay
would agree to a deal.
Should there be one, it would be big, given eBay's market value
of more than $28 billion and the premium ICE would likely have to
pay.
ICE is primarily interested in owning eBay's core marketplace
business, the people said, and not its classified unit, which eBay
has been considering selling. The classified unit could fetch
around $10 billion in a sale, people familiar with the matter have
said.
ICE may see an opening to apply its technological expertise
connecting buyers and sellers to eBay's core e-commerce site
covering everything from electronics to collectibles.
--Alexander Osipovich contributed to this article.
Write to Cara Lombardo at cara.lombardo@wsj.com and Corrie
Driebusch at corrie.driebusch@wsj.com
(END) Dow Jones Newswires
February 04, 2020 14:51 ET (19:51 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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