Feb 4, 2020 - Economy & Business

Report: NYSE owner makes takeover approach to eBay

Photo: Justin Sullivan/Getty Images

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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More firms throw weight behind new Wall-Street backed stock exchange

Photo: Carl Court/Getty Images

Goldman Sachs and JPMorgan are joining the list of banks, brokerages and trading firms that back the Members Exchange, or "MEMX" — a new stock exchange that says it will go live in July and challenge incumbent exchanges by charging lower fees.

Why it matters: MEMX, which is still awaiting regulatory approval from the SEC, could be a formidable competitor to the entrenched "big three" stock exchanges.

WSJ: New trade limits on chips for Huawei could hurt U.S. company growth

Illustration: Sarah Grillo/Axios

The Trump administration is weighing new trade restrictions that could force factories across the globe to obtain licenses if they want to use U.S. equipment to make chips for Huawei products, the Wall Street Journal reports.

Why it matters: The restrictions "risk disrupting the global supply chain for semiconductors and dent growth for many U.S. companies," the WSJ reports, citing unnamed U.S. industry participants. One goal of the proposed restrictions is for China to see the action as a threat, per the WSJ.

Go deeperArrowFeb 17, 2020 - World

The Baltic Dry Index is sinking

Data: Baltic Exchange: Chart: Axios Visuals

The Baltic Dry Index, a bellwether of the maritime shipping industry, continues to sink and a main component has fallen below zero to a record low, the Wall Street Journal reported.

What's happening: The Baltic Exchange’s capesize index, a component of the Baltic Dry Index that tracks the world's largest dry-bulk carriers, dug deeper into negative territory Tuesday, after going negative on Friday for the first time.