Ebay Weighs Selling Off Businesses After Pressure From Activist Investors

Ebay may be paving the way to auction off some of its businesses. The e-commerce company said Friday that it is initiating a strategic review of its assets, including ticket sales site StubHub and the Classifieds Group, after facing pressure from activist investors to spin off or sell these properties. From a report: Ebay is also adding two directors to its board, including Jesse Cohn of Elliott Management, a hedge fund that disclosed a 4% stake in the company in January and began agitating for change.
Devin Wenig, Ebay's president and CEO, said in a statement Friday that these moves are the result of 'two months' of dialogue between the company and investors. 'The bottom line is that we all share common ground: We see tremendous opportunity ahead and want to see Ebay's full potential realized over the long-term,' Wenig said. Last month, eBay announced a restructuring that would bring various regional marketplace units under one global leadership team.

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