New York Stock Exchange owner Intercontinental Exchange says it's not buying eBay, despite rumors to the contrary
ICE said late Tuesday that it"approached eBay to explore a range of potential opportunities that might create value for the shareholders of both companies." But the company added that"eBay has not engaged in a meaningful way." "We are not in negotiations regarding the sale of all or part of eBay," ICE concluded.Shares of ICE , which plunged 7.5% Tuesday on the merger rumors, rose 34.5% in early trading Wednesday.
The stock has lagged the performance of both the broader market and PayPal , which eBay spun off in 2015, for the past year. Read MoreLongtime eBay CEO Devin Wenig stepped down in September and activist investors are pushing the company to make changes. Elliott Management took a stake in eBay last year. Following that, eBay sold off its StubHub unit to a European competitor for $4 billion. But another activist firm, Starboard Value, wants eBay to dump even more assets.
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