Arab Today, arab today ebay ends icahn dispute with board appointment
Last Updated : GMT 18:51:50
Arab Today, arab today
Arab Today, arab today

EBay ends Icahn dispute with board appointment

Arab Today, arab today

Arab Today, arab today EBay ends Icahn dispute with board appointment

New Yourk - AFP

Online retail giant eBay said Thursday it had reached a deal with activist investor Carl Icahn, who had demanded a spinoff of the payment division PayPal. Icahn, who had been leading a campaign to split up the ecommerce giant, reached a deal with eBay that calls for the naming of a new independent member of the board of directors. The company said it agreed to Icahn's suggestion to appoint former AT&T chairman and chief executive David Dorman as an independent director. The deal ends a months-old dispute with Icahn, who had assailed eBay for poor management and claimed that keeping eBay tied with PayPal depressed the value of both units. "We are very pleased to have reached this agreement with Mr. Icahn, settling proxy issues and enabling our board and management team to focus our full attention on a goal every shareholder agrees on -- growing PayPal and eBay, and delivering sustainable shareholder value," said eBay's president and chief executive John Donahoe. "As a result of our conversations, it became clear that Carl and I strongly agree on the potential of PayPal and our company. I respect Carl's willingness to work together to drive sustainable shareholder value today and into the future. His record shows that he has done this with many other companies in the past." Icahn said in a Twitter message: "Extremely pleased about agreement with $EBAY. Believe it's a win-win for ALL shareholders." The billionaire investor has a long history of taking positions in companies that give him the leverage to force changes in management or provide dividends to shareholders. - Months of proxy war - The news of the Icahn campaign began in January, when the company notified shareholders that the corporate raider had called for the spinoff of PayPal. Icahn holds only about two percent of eBay shares but he has a reputation that magnifies his influence. He sent several open letters to eBay shareholders criticizing management and calling for a shakeup on the board. In a March 12 letter, Icahn launched a scathing attack, complaining of "a complete and utter breakdown in the system of checks and balances" and arguing that eBay sold off its Skype unit prematurely and that "$4 billion of upside was lost." "While the board and its advisors may try to use tricks and technicalities to keep documentary evidence of malfeasance out of the hands of stockholders, I believe that ultimately truth will win out," he wrote. In recent months Icahn has also taken aim at Apple, claiming that the tech giant should return more to shareholders. But in February, he stepped back and said Apple had accomplished much of what he was seeking with some $14 billion in share buybacks. Icahn is ranked by Forbes magazine as one of the world's wealthiest individuals with a net worth of some $23 billion.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ebay ends icahn dispute with board appointment Arab Today, arab today ebay ends icahn dispute with board appointment

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday