Intercontinental Exchange Inc (ICE), the owner of the New York Stock Exchange, h...
- Intercontinental Exchange Inc , the owner of the New York Stock Exchange, has reached out to eBay Inc to explore a potential combination with the e-commerce company, people familiar with the matter said on Tuesday.
The acquisition would exceed $30 billion and represent a substantial departure from ICE’s focus on financial markets. The move would call on its technological expertise in running markets to extract efficiencies from eBay’s marketplace platform, which connects buyers and sellers of goods around the world.
EBay’s shares ended trading on Tuesday up 8.7% on the news to $37.41, giving it a market value of $30.4 billion. ICE shares fell 7.5% to $92.59, giving the company a market value of $51.6 billion, as investors fretted a deal could be dilutive for the stock exchange operator.ICE, which also operates futures exchanges and clearing-houses, has faced pressure from U.S. regulators to freeze or reduce the fees it charges to operate financial markets, spurring it to diversify its business.
“To achieve the optimal outcome, we believe Classifieds must be separated, and a more comprehensive and aggressive operating plan must be put in place to drive profitable growth in the core Marketplace business,” Starboard said in a letter to eBay’s board.EBay has been shifting focus to its advertising and payments businesses amid stiff competition in its marketplace business from Amazon.com Inc and Walmart Inc.
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