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Icahn’s new demand on eBay

Carl Icahn is now modifying his demands on eBay Inc (NASDAQ:EBAY). The activist investor is no longer calling for a complete spilt between PayPal and eBay. Icahn is now demanding eBay to sell 20 percent of PayPal in an initial public offering. According to Icahn, a partial spinoff would show PayPal’s value and provide long term competitive advantage for both eBay and PayPal. In the partial spinoff, both companies according to Icahn should have a separate board. eBay still believes that the  two companies are better together than separated.