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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...