|
 Icahn, who owns just over 2 percent of eBay, also used the letter to
lay out new arguments for the split.
He has sparred with eBay management via open letters and press
releases since January, when eBay said the pugnacious billionaire
had made an unsolicited proposal for eBay to hive off PayPal and
nominated two directors to the eBay board.
In his latest missive, Icahn said a spinoff "could allow two
separate management teams to focus more closely on the core
businesses" and could also "provide a more compelling currency to
attract top talent to the respective companies."
He also said an independent PayPal would find it easier to land
strategic partnerships with companies that compete with eBay. EBay
has repeatedly said that eBay and PayPal are better off together.
Icahn disputed claims made this week by eBay chief executive John
Donahoe that most big shareholders agreed with management that
PayPal should remain with eBay.
Icahn, who has accused two eBay directors of having conflicts of
interest, said he was "encouraged" by an investor survey that showed
more than half of investors believe the composition of the eBay
board should change.
The results of the survey, published Wednesday by Bernstein
Research, found 43 percent agree splitting off eBay is a good idea,
Icahn said.
[to top of second column] |
"I find the Bernstein data points astounding in light of the fact
that we have not yet even begun to formally reach out to our fellow
eBay stockholders to make our case," he said.
EBay in a statement dismissed Icahn's claims about the survey
results as "interesting sound bites" and said its direct
conversations with shareholders were "more meaningful and credible."
EBay shares were up 1 percent to $59.48 in afternoon trading.
(Reporting by Phil Wahba in New York;
editing by Bernadette Baum, Meredith Mazzilli and Tom Brown)
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