Illustration: Rebecca Zisser/Axios

EBay's board of directors will meet Friday to pick a buyer for the company's classified ads business, which could fetch between $8 billion and $10 billion.

Why it matters: This would be yet another big-money example of activist investor Elliott Management getting what it wants. Elliott in January 2019 began urging eBay to restructure, including by separating its classified and StubHub units from its flagship marketplace platform. EBay completed its StubHub sale this past February, just before the pandemic eviscerated the live events industry.

  • Contenders: Dutch conglomerate Prosus made the highest offer, per Bloomberg, but faces rival bids from Norwegian classifieds firm Adevinta and a private equity group that includes the Blackstone Group, Hellman & Friedman, and Permira.

The bottom line: "Ebay’s classified business includes brands such as Gumtree and Kijiji and offers online ads to more than 1,000 cities around the world. The unit posted an operating income of $83 million in the first quarter of 2020, with revenues of $248 million," reports Reuters.

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Updated 27 mins ago - Politics & Policy

Coronavirus dashboard

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  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Business: New state unemployment filings fall.
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: FDA approves Gilead's remdesivir as a coronavirus treatment How the pandemic might endMany U.S. deaths were avoidable.
  5. Education: Boston and Chicago send students back home for online learning.
  6. World: Spain and France exceed 1 million cases.

What to expect from the final debate of the 2020 election

Trump and Biden at the first debate. Morry Gash-Pool/Getty Image

Watch for President Trump to address Joe Biden as “the big guy” or “the chairman” at tonight's debate as a way of dramatizing the Hunter Biden emails. Hunter's former business partner Tony Bobulinski is expected to be a Trump debate guest.

The big picture: Trump's advisers universally view the first debate as a catastrophe — evidenced by a sharp plunge in Trump’s public and (more convincingly for them) private polling immediately following the debate.

FBI: Russian hacking group stole data after targeting local governments

FBI Headquarters. Photo: Mark Wilson/Getty Images

Energetic Bear, a Russian state-sponsored hacking group, has stolen data from two servers after targeting state and federal government networks in the U.S. since at least September, the FBI and Cybersecurity and Infrastructure Security Agency said on Thursday.

Driving the news: Director of National Intelligence John Ratcliffe announced Wednesday that Iran and Russia had obtained voter registration information that could be used to undermine confidence in the U.S. election system.

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