EBay Inc and Carl Icahn ended their proxy fight on Thursday as the activist investor dropped his proposal that the e-commerce company split off its PayPal payments unit and withdrew his two nominees for the eBay board.Icahn in January called for the company to hive off its fast-growing PayPal business, arguing the unit is undervalued as part of eBay.In the following weeks, Icahn, who controls about 2 percent of eBay, sent a series of open letters critical of Chief Executive Officer John Donahoe, the board, and corporate governance at the e-commerce company, which he said was among the worst he had seen.Donahoe and board members, including founder Pierre Omidyar, have repeatedly urged shareholders to reject Icahn's proposal at the annual shareholder meeting in May, saying eBay and PayPal were better off together.
eBay Inc., is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY remained unchanged at $55.89. In the past year, the shares have traded as low as $48.06 and as high as $59.70. On average, 13690300 shares of EBAY exchange hands on a given day and today's volume is recorded at 566618.
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