Cooperman Backs Icahn On eBay

Mar 12 2014 | 11:17am ET

Critics of Carl Icahn's campaign against eBay Inc. have been legion. Supporters have been few. But another prominent hedge fund manager has joined the latter contingent.

Omega Advisors founder Leon Cooperman said he agreed with Icahn that eBay should spin-off its PayPal unit.

"I give Carl a lot of credit for taking the time and showing the energy, and in this case, we happen to agree with him," Cooperman told CNBC. "I think they should spin out a portion of PayPal."

Omega, like Icahn, is an eBay investor.

Icahn has lambasted eBay's corporate governance, accusing two prominent directors of having conflicts of interest and alleging that the company sold Skype for too little. He has pledged a proxy battle with the company, seeking to have two of his representatives join the board.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...