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Share Name | Share Symbol | Market | Type |
---|---|---|---|
eBay Inc | NASDAQ:EBAY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.88 | -3.68% | 49.18 | 49.06 | 49.18 | 36,353 | 13:34:33 |
By Alexander Osipovich
Intercontinental Exchange Inc. said it was abandoning its pursuit of eBay Inc. after the New York Stock Exchange parent's investors pushed back strongly against the move.
Intercontinental Exchange, or ICE, said in a statement released after the markets closed Thursday that it was giving up on its consideration of a deal for eBay based on conversations with investors after a morning earnings call.
Executives of the Atlanta-based exchange operator discussed their interest in the e-commerce company on the call, exacerbating a swoon in shares that began after The Wall Street Journal reported on the potential deal Tuesday.
Shares of ICE dropped 2.9% on Thursday after the call failed to tamp down investors' jitters over the potential deal. At one point, the company's shares were down 6.5%. The stock had already fallen 7.5% Tuesday. Since news of ICE's overture to eBay surfaced, the exchange operator has lost more than $5 billion in market value.
Write to Alexander Osipovich at alexander.osipovich@dowjones.com
(END) Dow Jones Newswires
February 06, 2020 17:06 ET (22:06 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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