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eBay sues Craigslist: takeover move next
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Posted on
Apr 23 2008 4:41 AM
by
adeal
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Online auction company eBay (NASDAQ:EBAY) owns just over 28% of classifieds company Craigslist. eBay bought in during 2004. Now, eBay is suing Craigslist and its management for diluting its share in Craigslist, something it contends the classified company can not do. "The recent actions by the Craigslist directors have disadvantaged eBay and its investment in Craigslist," Michael Jacobson, eBay's senior vice president and general counsel according to The New York Times. All of this is a great mystery. eBay has not said what it paid for its stake.
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