Illustration: Rebecca Zisser/Axios

eBay on Tuesday said that it will sell a majority stake in its classifieds unit to Norwegian classifieds firm Adevinta.

The big picture: eBay came under pressure in early 2019 from activist investor Elliott Management, which wanted it to spin off both its classifieds and StubHub units from its flagship marketplace platform. StubHub was sold to Viagogo just before the pandemic hit.

Details: The deal values eBay's classifieds unit at $9.2 billion, with eBay to retain a 44% stake in the newly-created company.

  • The business has a higher profile outside of the U.S. than within it, offering online adds in more than 1,000 cities and generating $248 million in Q1 2020 revenue.

Rivals: Adevinta's cash and stock deal beat out an all-cash, $9 billion bid from Dutch conglomerate Prosus. There also was an offer from a private equity consortium that includes The Blackstone Group, Hellman & Friedman, and Permira.

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Former GOP governor of Pennsylvania Tom Ridge endorses Joe Biden

Tom Ridge. Photo by Drew Angerer/Getty Images

Tom Ridge, the former Republican governor of Pennsylvania, will vote for Joe Biden, he announced in a Philadelphia Inquirer op-ed on Sunday.

Why it matters: Ridge, who also served as the first Secretary of Homeland Security under George W. Bush, said this would be his first time casting a vote for a Democratic candidate for president. He's now the third former Republican governor from a swing state to endorse Biden and reject Trump — joining John Kasich from Ohio and Rick Snyder from Michigan.

Poll: Majority of voters say election winner should fill SCOTUS vacancy

President Trump and Judge Amy Coney Barrett. Photo by Chip Somodevilla/Getty Images

A majority of voters believe the winner of the next election should fill the Supreme Court vacancy left by the death of Ruth Bader Ginsburg, a new poll from the New York Times and Siena College finds.

Why it matters: President Trump and Senate Republicans have vowed to swiftly confirm his nominee Amy Coney Barrett, in part hoping for a political boost as the conservative base is extremely motivated by issues concerning the court. The poll indicates that moving fast may not help them with voters they also need to win over: women, independents, and college-educated white voters.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 32,870,631 — Total deaths: 994,534 — Total recoveries: 22,749,163Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 7,079,689 — Total deaths: 204,499 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: New York daily cases top 1,000 for first time since June — U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.