Elliott Management Notches a Win in eBay's StubHub Sale

In January, activist investor Elliott Management announced that it had acquired a $1.4 billion stake in online auctioneer eBay (NASDAQ: EBAY), representing an equity stake of over 4%. At the same time, the hedge fund laid out a five-step strategy called "the Enhancing eBay Plan" to maximize shareholder value, with Elliott estimating that eBay shares could jump 75% to 100% from then-levels to $55 to $63 -- sending the stock soaring in the process.

With eBay's announcement yesterday that it is selling StubHub, Elliott is notching a major win.

Image source: eBay.

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Source Fool.com