Cooperman backs Icahn on eBay/PayPal


Leon Cooperman tells CNBC he backs fellow eBay (EBAY -1%) shareholder Carl Icahn's call for a PayPal spinoff. Cooperman's Omega Advisors owned 855K eBay shares (less than a .1% stake) at the end of Q4.

Meanwhile, Icahn (2%+ stake) has fired a fresh broadside at eBay CEO John Donahoe over his handling of the Skype sale (previous), declaring his "inexcusable incompetence" cost shareholders over $4B.

The letter comes shortly after eBay (as expected) rejected Icahn's board nominees. Both Icahn and Donahoe claim to have strong shareholder support for their PayPal stances.

From other sites
Comments (2)
  • Bosco_pcs
    , contributor
    Comments (89) | Send Message
     
    Not exactly since a partial spinout a la $EMC/$VMW is very different from a complete spinoff. Mr Icahn is taking the route of Loeb's $YHOO pre-Meyer. The problem is that $YHOO needed a major reset at that time but $EBAY? The corporate fight could be a huge distraction. Instead, $EBAY should follow the $EMC route to take PayPal public but retain a majority owner. Then everyone will get a piece of action without making sacrificing management focus
    10 Mar 2014, 01:09 PM Reply Like
  • Eric Jhonsa
    , contributor
    Comments (1276) | Send Message
     
    Agree. An EMC/VMware-type move is the approach I'd take.
    10 Mar 2014, 01:12 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs