Carl Icahn backed off calls for eBay Inc to spin out its fast-growing PayPal payments unit on Thursday, after the billionaire investor failed to drum up support from the e-commerce company's major shareholders.Icahn withdrew his two nominees to eBay's board ahead of the company's annual meeting in May. But in a concession to the famously pugnacious activist investor, eBay added David Dorman, a founding partner of investment firm Centerview Capital Technology, as a 10th independent director.The settlement caps a months-long acerbic war of words and marked a reversal for Icahn, who had accused eBay Chief Executive Officer John Donahoe of "inexcusable incompetence" and attacked the company's board repeatedly for shoddy governance.He appeared to soften his stance on Thursday, saying he found several of Donahoe's ideas "compelling" and looked forward to working with eBay's board.
eBay Inc., is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY fell by 3.24% or $-1.81/share to $54.08. 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 28317468.
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