After weeks of back-and-forth with eBay Inc.’s board, investor Carl Icahn has changed tactics in his bid to separate PayPal from its retailer parent.
In a posting on his website, Icahn advocated for selling a 20 percent share of the payments company to the public, while maintains the remaining share under board control.
“A 20% IPO of PayPal could allow for all of the benefits of an independent PayPal, preserves all of the benefits of keeping PayPal in-house and could be structured so as to be tax free to shareholders, Icahn wrote.
eBay’s board has maintained through out that both companies are stronger together.
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