Silver Lake Opposes Icahn On eBay

Mar 3 2014 | 10:39am ET

When it comes to technology companies, Silver Lake Partners simply does not see eye-to-eye with Carl Icahn.

Egon Durban, managing partner at the private-equity firm, rejected Icahn's argument that online marketplace eBay Inc. should spin-off its PayPal unit, and dismissed the veteran investors' allegation that two prominent eBay board members have conflicts of interest.

The comments come five months after Silver Lake won approval of its $24.8 billion buyout of Dell Inc., a deal vociferously contested by Icahn for months. Silver Lake also partnered with Netscape Communications founder Marc Andreessen to buy 70% of Skype from eBay five years ago, a transaction that Icahn has called into question.

Durban called Icahn's criticism of Andreessen "surreal."

"To have Marc on your board is truly incredible," he said. "He is in a lot of ways the uber technology Renaissance man."

Durban had little more patience for Icahn's push to separate PayPal, saying the payments unit is "lucky to be part of eBay."


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of