As of yesterday, February 4th, 2020, a multi-billion-dollar turn of events has just taken place in the international headlines.According to a recent post by the Wall Street Journal, Intercontinental Exchange Inc. (ICE), the owner of the New York Stock Exchange (NYSE) and Bitcoin futures trading platform Bakkt, has approached eBay with a purchase offer, valuing the online marketplace at a staggering billion.As stated in the WSL’s post, “ICE may see an opening to apply its technological expertise connecting buyers and sellers to eBay’s core e-commerce site covering everything from electronics to collectibles.”Could This Mean New Ownership of eBay?It’s important to note that, as of yet, neither company has announced any news of formal talks. Therefore, there are no guarantees that the
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As of yesterday, February 4th, 2020, a multi-billion-dollar turn of events has just taken place in the international headlines.
According to a recent post by the Wall Street Journal, Intercontinental Exchange Inc. (ICE), the owner of the New York Stock Exchange (NYSE) and Bitcoin futures trading platform Bakkt, has approached eBay with a purchase offer, valuing the online marketplace at a staggering $30 billion.
As stated in the WSL’s post, “ICE may see an opening to apply its technological expertise connecting buyers and sellers to eBay’s core e-commerce site covering everything from electronics to collectibles.”
Could This Mean New Ownership of eBay?
It’s important to note that, as of yet, neither company has announced any news of formal talks. Therefore, there are no guarantees that the deal is actually going to go through, or that it will even be considered by eBay’s owner and founder, Pierre Omidyar.
And although this isn’t the first time that eBay has been approached with a takeover offer, this new proposition leaves many wondering if ownership of the online marketplace might soon be switching hands.
Today, eBay’s marketplace value sits somewhere around an estimated $28 billion, with its stocks having seen a rise of about 10% over the course of recent months. But, according to the Wall Street Journal, the Atlanta-based Intercontinental Exchange will need to pay a premium in order to win the deal, which explains the offer of just over $30 billion.
Will eBay Say Yes?
According to the Wall Street Journal, the Intercontinental Exchange is mainly interested in a takeover of eBay’s core marketing, rather than its classified unit. Of which, eBay has considered selling in the past and is estimated to be worth roughly $10 billion on its own.
But whether eBay is going to respond to the offer remains uncertain. ICE’s offer comes at a time where the future of the global economic system has never been more uncertain. And because of this uncertainty, many of today’s current stock exchanges and major institutional investors are looking to diversify their holdings outside of traditional forms of trade.
Bakkt a new cryptocurrency venture by ICE, launched in 2019. The Bitcoin futures trading platform for institutions is seeing constant increase in its volumes, hinting that big players might be coming on board.