eBay Takeover Offer Made By Intercontinental Exchange
Online marketplace eBay has been approached again by Intercontinental Exchange, with the owner of the New York Stock Exchange making a takeover offer that could value the company at over US$30 billion.
As reported by the Wall Street Journal, the company, known as ICE is not yet in discussion with eBay, and nor is eBay guaranteed to agree with the deal.
‘ICE approached eBay to explore a range of potential opportunities that might create value for the shareholders of both companies… eBay has not engaged in a meaningful way,’ said ICE in a statement.
It comes after a decline in profit for the online marketplace, as eBay continues to struggle against Amazon.
Shares dropped by 4.5% following the weak first-quarter revenue outlook, with a decline in both US and international sale volumes.
Despite this eBay still managed to reach profitability, with its operating margin up to 29.3% of sales from 29.2%.
However, according to Bloomberg, eBay would be a regrettable online purchase.
This considering that ICE has overtaken eBay in terms of market cap.