Starboard Delivers Letter to eBay
Believes eBay Is Deeply Undervalued and Significant Opportunities Exist to Unlock Value through Operational and Strategic Initiatives Believes eBay Must Commit to a Separation of eBay Classifieds Group in Order to Unlock Significant Shareholder Value Disappointed with Results of Operating Review and Believes a More Comprehensive and Aggressive Operating Plan Is Needed to Drive Profitable Growth in Core Marketplace Business
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NEW YORK, Feb. 4, 2020 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), one of the largest shareholders of eBay Inc. (NASDAQ: EBAY), with an ownership interest of more than 1.0% of the Company's outstanding shares, today announced that it has delivered a letter to both Thomas J. Tierney, eBay's Chairman of the Board, and Scott F. Schenkel, eBay's Interim Chief Executive Officer, with copies to the Company's Board of Directors.
The full text of Starboard's letter can be viewed at the following link:
About Starboard Value LPStarboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Investor contacts:Peter Feld, (212) 201-4878Gavin Molinelli (212) 201-4828www.starboardvalue.com
View original content:http://www.prnewswire.com/news-releases/starboard-delivers-letter-to-ebay-300998560.html
SOURCE Starboard Value LP
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