(Reuters) – Hedge funds Elliott Management and Starboard Value have taken stakes in eBay Inc (EBAY.O) and are pushing for changes including the sale of some of the e-commerce companys businesses.
In a letter to the companys board, Elliott asked eBay to hive off its StubHub ticket sales business and eBay Classifieds Group as part of a plan the hedge fund says could double the companys value.
Starboard has also taken a significant stake in eBay and been pushing for changes including asset sales in the past few months, a source familiar with the matter said separately. Starboard did not respond to a request for comment.
Shares of eBay rose as much as 12 percent before trading up 5.7 percent at $32.78 early Tuesday afternoon. They had lost a…
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