Silver Lake Opposes Icahn On eBay

Mar 3 2014 | 11:39am 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."


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