Intercontinental Exchange (NASDAQ:ICE), which owns the New York Stock Exchange, has made a takeover offer for eBay Inc (NASDAQ:EBAY), according to the Wall Street Journal.
Known as ICE, the NYSE operator could value the sprawling online marketplace at more than $30 billion, sources told the newspaper.
ICE has approached eBay in the past and did so again recently. The companies aren’t currently in formal talks, and there is no guarantee eBay would agree to a deal.
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In a statement last Tuesday, ICE confirmed its interest in a deal after the Journal reported on it earlier in the day and the company’s shares sank. But eBay shares rose nearly 9% on the news and recently traded down 1.4% to $36.88 a share in pre-market action.
“ICE approached eBay to explore a range of potential opportunities that might create value for the shareholders of both companies,” ICE said. “EBay has not engaged in a meaningful way.”
It added: “Over ICE’s 20-year history, the company’s track record of creating shareholder value, both through organic growth and acquisitions, speaks for itself. ICE does look to explore potential opportunities that it expects will deliver enhanced shareholder value, and will continue to do so in the future.”
ICE is primarily interested in owning eBay’s core marketplace business and not its classified unit, which eBay has been considering selling and may be worth $10 billion, the Journal reported.
ICE also 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 collectables.
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