eBay Flatly Rejects Icahn Compromise, Sets Up May 13 Showdown

As Carl Icahn continues to wage a media war, calling into question the ethics of eBay Inc (NASDAQ:EBAY)’s board members, the e-commerce company today issued a letter to shareholders that stuck to Icahn’s original investment thesis: the breakup of PayPal from eBay. In that letter eBay flatly rejected what had appeared to be a concession on the part of Icahn. Proposal “nothing new” Setting up a May 13 showdown at the annual shareholder’s meeting, eBay Inc (NASDAQ:EBAY)’s board fired back at Icahn’s proposal to spin off PayPal from eBay, noting that Icahn’s proposal is “nothing new” and the board said…