ICE responds to media speculation about offer for eBay

Maria Nikolova

ICE confirms it approached eBay to explore a range of potential opportunities but eBay has not engaged in a meaningful way.

International operator of exchanges and clearing houses and provider of data and listings services Intercontinental Exchange, Inc. (NYSE:ICE) sought to respond to media reports about it seeking to takeover eBay.

The Wall Street Journal reported on Tuesday, February 4, 2020, that ICE has made a takeover offer for eBay that could value the online marketplace at over $30 billion. The newspaper referred to people familiar with the matter. The WSJ said the companies were not in formal talks, and there was no guarantee eBay would agree to a deal.

The WSJ estimates that, in case of a deal, given eBay’s market value of more than $28 billion and the premium ICE would likely have to pay, the transaction would be big.

In its response to media reports, ICE confirms it approached eBay to explore a range of potential opportunities that might create value for the shareholders of both companies. eBay has not engaged in a meaningful way. “We are not in negotiations regarding the sale of all or part of eBay”, ICE noted.

ICE stressed that it does look to explore potential opportunities that it expects will deliver enhanced shareholder value, and will continue to do so in the future.

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