FILE - This Jan. 14, 2015, file photo, shows signage at the entrance to eBay's headquarters in San Jose, Calif. An activist shareholder is telling eBay that restructuring its business could help more than double its stock price. Investment firm Elliott Management, which owns more than 4 percent of eBay stock, said in a letter sent to eBay Inc.’s board that enacting the recommendations could lead eBay’s stock to be valued at $55 to more than $63 per share by the end of next year. The stock closed at $31 on Friday, Jan. 18, 2019. (AP Photo/Marcio Jose Sanchez, File)

Elliott pushes for changes at eBay

January 22, 2019 - 7:28 am

NEW YORK (AP) — An activist shareholder says eBay would be better off without StubHub or its classified ads businesses.

Elliott Management, which owns more than 4 percent of its stock, said in a letter to eBay that if it focused on its online marketplace, it could push its share price, which had been trading for around $30, to $55 or even more than $63 by the end of next year.

In early trading Tuesday, shares of eBay Inc. jumped 9 percent.

Elliott believes the Classifieds business has a potential value of $8 billion to $12 billion, with StubHub's value at $3.5 billion to $4.5 billion.

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