NYSE parent company ICE approaches eBay with takeover offer: report
February 4, 2020, 2:51PM EST
1 min read
Intercontinental Exchange, the derivatives and equities trading giant, has made online market-place eBay a takeover offer that would value the company above $30 billion, according to a report by The Wall Street Journal.
To be sure, the companies have not held formal talks, the Journal's report specified.
Indeed, ICE released a statement following the publication of this report noting eBay has not "engaged in any meaningful way," referring to the opportunities ICE has approached them with.
"We are not in negotiations regarding the sale of all or part of eBay," ICE said in a statement.
Atlanta-based ICE approached Ebay for the deal multiple times, according to The Journal's report. The deal would value Ebay above its current market cap of $28 billion. The company's stock popped 10% on the news. ICE subsidiaries include the New York Stock Exchange and cryptocurrency venture Bakkt.
ICE was trading down close to 2.7%.
The news comes as exchanges look to diversify their offerings outside of traditional trading. Rival Nasdaq, for instance, announced recently a deal with Airbus to create a trading venue for the airlines industry.
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