EBay stock up on report Intercontinental Exchange made takeover offer

eBay’s headquarters in San Jose, California, U.S.

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Shares of eBay surged 8.7% on Tuesday after The Wall Street Journal reported that Intercontinental Exchange (ICE) has made a bid to acquire eBay’s marketplace business. ICE shares fell 7.4% on the news.

The companies aren’t in formal talks about a possible takeover and there’s no guarantee eBay will choose to pursue any deal, the Journal reported. The deal could value eBay at roughly $30 billion, according to the publication. EBay’s market cap stood at more than $28 billion as of Tuesday afternoon.

A spokesperson from ICE told CNBC in a statement, “It’s ICE’s policy not to comment on rumors or speculation related to M&A.”

An eBay spokesperson declined to comment.

ICE has approached eBay about owning the company’s online marketplace, not its classifieds business, the Journal reported.

Earlier Tuesday, hedge fund Starboard Value called for eBay to sell its classifieds business, saying it would allow the company to focus on growing the marketplace business. EBay said it would consider Starboard’s “letter and perspectives” as it reviews future opportunities for “growth and value creation.”

— CNBC’s Bob Pisani contributed to this report.

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