Report: NYSE owner makes takeover approach to eBay
eBay's shares rose nearly 10% on Tuesday after the Wall Street Journal reported New York Stock Exchange owner Intercontinental Exchange made a takeover offer for the e-commerce site.
The big picture: Intercontinental Exchange has previously approached the commerce giant, WSJ writes, citing people familiar with the matter. Still, the companies are not in formal talks and a deal remains uncertain.
- WSJ speculates the offer could value the company at more than $30 billion, based on a premium to eBay's current $28 billion market cap.
- Intercontinental Exchange is more interested in owning eBay’s marketplace business, rather than its classified unit.
- Intercontinental Exchange could use the takeover as a way to "apply its technological expertise connecting buyers and sellers" on eBay, WSJ writes.
An eBay representative declined to comment when Axios reached out.
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