EBay to Spin Off PayPal, Adopting Strategy Backed by Icahn
By MICHAEL J. DE LA MERCED and ANDREW ROSS SORKIN SEPTEMBER 30, 2014
Business • September 2014 • Views: 786
EBay said on Tuesday that it would spin off its PayPal payments unit into a separate publicly traded company, taking a step the activist hedge fund magnate Carl C. Icahn first demanded nine months ago.
The move will cleave eBay almost in half, separating it from the payments processor it acquired 12 years ago and built into a giant that generates almost half of the company’s revenue.
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