Activist investor Carl Icahn told eBay Inc shareholders in a new letter on Thursday he has "not yet begun to fight" to get the e-commerce company to spin off its PayPal payments unit.Icahn, who owns just over 2 percent of eBay, also used the letter to lay out new arguments for the split.He has sparred with eBay management via open letters and press releases since January, when eBay said the pugnacious billionaire had made an unsolicited proposal for eBay to hive off PayPal and nominated two directors to the eBay board.In his latest missive, Icahn said a spinoff "could allow two separate management teams to focus more closely on the core businesses" and could also "provide a more compelling currency to attract top talent to the respective companies."
eBay Inc., is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY traded higher by 0.58% or $0.34/share to $59.20. In the past year, the shares have traded as low as $48.06 and as high as $59.70. On average, 13981600 shares of EBAY exchange hands on a given day and today's volume is recorded at 696504.
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