EBay Acquisitions and Divestitures

EBay, Inc. completed the acquisition of GSI Commerce, Inc. in a deal worth approximately $2.4 billion ($29.95 per share). GSI Commerce will operate as a separate business unit led by President Chris Saridakis. In addition, eBay will pay settlement amount of 33 cents per share to drive the price of the deal towards $3 billion. EBay also completed the divestiture of 100% of GSI’s licensed sports merchandise business and 70% of ShopRunner and Rue La La to a newly formed holding company led by GSI founder and former CEO Michael Rubin. EBay will hold the other 30%, and loan the new company $467 million while Rubin kicks in $31 million.