Market Overview

Rumor: Google Inc To Buy 40% Stake In EBay Inc At $68/Share

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Rumor: Google Inc To Buy 40% Stake In EBay Inc At $68/Share

UPDATES:

  • 11:50 am: Google Declines Comment on Rumored Stake in Ebay
  • 11:49 am: Analysts React To Google-eBay $85 Billion Merger Rumor
  • 11:35 am: Ebay Says Has Had No Conversations with Google About Acquiring Ebay Stake -Reuters
  • 11:23 am: Ebay Declines Comment on Rumor of Potential Stake by Google
  • 11:20 am: Benzinga has reached out to eBay and Google and is currently waiting for a response. 
  • (NOTE: These headlines can be viewed in real-time via Benzinga's Pro feed, one of Wall Street's top breaking-news wires.)

Original post:

EBay Inc. (NASDAQ: EBAY) spiked early Friday on a rumor that Google is poised to announce acquiring a 40 percent stake in the online auction concern.

Google Inc. (NASDAQ: GOOGL) could acquire the stake in a deal valued at $85 billion, or $68 a share, according to an unnamed source. 

A lot of buzz about the rumor is surfacing on the web, including chatter on StockTwits.

Activist investor Carl Icahn reportedly pushed for the deal as a means to enable Google to compete more effectively with Amazon.com Inc. (NASDAQ: AMZN) and Alibaba.

Tweeters citing a "source," said eBay delayed the deal until Apple Inc. (NASDAQ: AAPL) offered details of its Apple Pay system related to the latest iPhone.

EBay traded recently at $51.42 a share, up 1.5 percent.

 

Related Articles (EBAY + GOOGL)

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