Icahn pulls proposal that eBay sell off PayPal

Home Forums Icahn pulls proposal that eBay sell off PayPal

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    Technology News

    An eBay logo is projected  white boxes in this illustration picture taken in WarsawBy Phil Wahba NEW YORK (Reuters) – Activist investor Carl Icahn has dropped his call for eBay Inc to split off its fast-growing PayPal payments unit but has suggested he would keep pressure on the e-commerce company. EBay said on Thursday that it had settled its proxy fight with the billionaire, who also withdrew his two nominees for the eBay board ahead of the company's annual shareholder meeting next month. In a concession to Icahn, eBay said it would add David Dorman, a founding partner of investment firm Centerview Capital Technology, as an independent director on its board. But Icahn, who in January called for hiving off PayPal before engaging in weeks-long war of words with eBay, indicated he had not given up on the idea.

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