One of the highlights of the ‘Summer of Spin’ was eBay’s (EBAY) spin off of payments processor PayPal (PYPL). Several activists had been pushing hard for the spin, including Carl Icahn, who at one point, engaged in a heated war of words with the company and then CEO John Donahoe. Although he ultimately struck a deal with a… Read More »
One the most anticipated spinoffs during the Summer of Spin was eBay’s (EBAY) spinoff of PayPal (PYPL). Both activists (Carl Icahn) and tech kings (Elon Musk) urged the company to make the move, but it didn’t help the initial performance as the stock took a slight dive in its first few days of trading. A few days of… Read More »
eBays’ (EBAY) long awaited spinoff of Paypal (PYPL) will be completed after the close today and the first day of trading for the new company will be Monday, July 20th. The breakup idea goes back a looooong way and was actually the subject of one of our first articles. EBAY shareholders should receive one share of PYPL for… Read More »
What a week for spinoffs. Truly historic. Beginning on Monday with TEGNA (TGNA)/Gannett (GCI), the ‘Summer of Spin’ crescendoed yesterday with the completion of six more spins: DuPont (DD) spun off its performance chemicals unit (including Teflon) into Chemours (CC). The new company told investors it plans on paying out a stable dividend, which is somewhat unusual for such… Read More »
With his public battle over Dell finished, Carl Ichan didn’t take too long in drumming up a new target. The famous corporate raider is now pushing eBay (EBAY) to spin off its online transaction business, PayPal, and submitted this idea for a non-binding vote at an upcoming shareholder meeting. Along with a spinoff, Mr. Icahn is also seeking… Read More »
Image via CrunchBase Ever since eBay (EBAY) unloaded its stake in Skype last year, there has been fierce speculation that they would do the same with PayPal, the popular online transaction company. Here is a piece in the New York Times from earlier this year making the case that a spinoff is needed in order for PayPal to… Read More »