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Breakingviews: Icahn's losing eBay bid

Thursday, Apr 10, 2014 - 02:55

April 10 - Jeffrey Goldfarb and Rob Cyran discuss billionaire Carl Icahn's decision to end his vitriolic attack against online auction site eBay.

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-- Todd has been reached in the battle it UK. Carl Icahn and -- CEO seem to have come to an agreement about how to resolve what was he really nasty fight for a little while there but exactly. Basically they've agreed to wanted to talk some more and -- And two point one extra director who is it had mutual consent between the two that first started very definitely Carl Icahn came in guns blazing said he. This is the worst corporate governance -- ever seen you guys need to split up the company. And then the odd thing was he was right about a lot of these things they mean it they had found some of -- from the conflicts -- -- Really alarming for instance America entries and he he's member of the board. He also participated in the buyout -- -- Look like it kind of a sweetheart deal and there were a couple more transactions involved with it. And because of the financial logic of yes this -- -- I mean PayPal because it's part of -- if it's grown very well the problem is that more more its business comes from outside of -- he -- may be other sites might be more willing to use it and can grope per team and fans and even. Present the idea of the army has been off the whole thing you contagious and make it tracking the -- make a tracking stock because companies like -- treated a big premium -- he could if you spent an awful lot you'll wanna buy this thing and it would showed you know it's worth a lot more that it needed is is part of it but wouldn't. I can't show at all or was pinched and I thought here was that -- -- eBay really came out swinging back which is pretty uncommon they went toe to toe with them. It seems like that tactic wolf it's it hurts to say this in part because he had this very strong and going in there now he's walking away without even one director appointed. Sure he's eight EC east season has a couple of things he says and we're not abandoning our fight. They see is gonna continue to talk to me when it comes to New York loves meetings he lets face it that he doesn't a lot of those. But in at at the big that's not very much for her for what was -- a very high profile campaign what chances are you sort of giving me the idea of and you know with. His partial represented on -- persuading others to eventually split is our question of logic I mean it it's as we've said before. -- matter of business that PayPal is getting outside of eBay is growing every year it's it's now -- it and its most of this is outside. Eventually at some point -- CEO of -- even said we haven't dismissed the idea we just don't think it's right yet. If you get another person on the board that could speed up the timetable currently occupied island. And will be back with more breaking news tomorrow.

Breakingviews: Icahn's losing eBay bid

Thursday, Apr 10, 2014 - 02:55

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