EBay: Dramatic Housecleaning Ahead After Elliott Management Acquires $1.4 Billion Stake
By CCN.com: There's a new sheriff in town at EBay after activist hedge fund Elliott Management acquired a 4% stake in the online retailer valued at $1.4 billion. In a letter to the company's board of directors, Elliott promised that dramatic major changes are ahead for the e-commerce giant.
Elliott Management — the activist hedge fund founded by billionaire Paul Singer — made the announcement in a damning January 22 shareholder letter (read the full letter at the bottom of this article).
An activist shareholder is a stakeholder that uses an equity position in a company to pressure its management to do something it wants.
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