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Technology Stocks : eBay - Superb Internet Business Model
EBAY 85.79-13.8%12:32 PM EDT
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From: Glenn Petersen6/26/2015 6:04:52 PM
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EBay Board Approves PayPal Spinoff; Stock Distribution Set For July 17

By Teresa Rivas
Barron's
June 26, 2015, 4:33 P.M. ET

Shares of eBay ( EBAY) are up 0.3% in after hours trading just minutes after the company said that its board of directors approved the completion of the PayPal spinoff.

According to the press release, eBay stockholders on record as of July 8 will receive one share of PayPal common stock for each share of eBay common stock. The distribution of PayPal stock will be on July 17.

Earlier this month, Wells Fargo said that PayPal’s openness would help defend it from Apple’s ( AAPL) Apple Pay.

EBay shares closed down in regular trading but have gained 23% in the past year.

blogs.barrons.com
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