Looks like ebay is in the process of breaking itself up into smaller companies and spinning them off or selling them to highest bidder. Exactly what Elliot investment wants to do with ebay.
Ebays business units:
Stubhub - $4-6 billion
Ebay classified - $8-12 billion (already have suitors)
Ebay core marketplace e-commerce ebay.com site - $15 billion
According to Elliot’s analysis (link below), Google is one of the potential buyer of core marketplace business to take on Amazon in the long run. With 180 million users if someone can bring fullfilment centers to ebay - boom, you have a clone of AMZN.
I think Facebook is another big suitor of core marketplace business.
Ebay stocks will likely hit $70+.
Elliot were the activists who took NTAP from about $20/share to over $90/share. They have a great reputation of enhancing value of the companies they engage with. Now they have bought themselves into ebay’s board.
What do you guys think?
Link to Elliot Investments research:
https://enhancingebay.com/content/uploads/2019/01/Elliott-Management-Letter-to-eBay-1.pdf
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