Report: New York Stock Exchange owner bids to buy eBay

Business

FILE – In this July 11, 2019, file photo, an Ebay app is shown on a mobile phone in Miami. The owner of the New York Stock Exchange has made an offer to buy online marketplace eBay Inc. That’s according to a report by the Wall Street Journal on Tuesday, Feb. 4, 2020. (AP Photo/Wilfredo Lee, File)

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NEW YORK (AP) — The owner of the New York Stock Exchange has made an offer to buy online marketplace eBay Inc., the Wall Street Journal reported Tuesday.

The Journal said Intercontinental Exchange Inc. is valuing eBay at more than $30 billion, compared to eBay’s value of around $28 billion before the report.

The newspaper cited people familiar with the matter who were not named.

Atlanta-based Intercontinental Exchange, better known as ICE, declined to comment on the report. EBay did not immediately respond to request for comment.

Activist shareholders have been pushing eBay to make some significant strategic changes, including selling off its ownership of online ticket resale site StubHub.

Shares in eBay, which is based in San Jose, California, closed Tuesday up almost 9%. ICE’s shares slumped more than 7%.

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This story has been updated to correct the name of ICE. It’s Intercontinental Exchange, not International Exchange.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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