Post by Deleted on Jul 10, 2015 14:53:40 GMT
Toys R Us leaving ebay...
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www.wsj.com/articles/ebays-enterprise-unit-takes-a-hit-amid-sale-talks-1436478012
EBay’s Enterprise Unit Takes a Hit Amid Sale Talks
Client Toys ‘R’ Us to take control of its own e-commerce operations
Toys on display at a Toys “R” Us store in Colonie, N.Y. The company is moving to take control of its own e-commerce operations, as eBay prepares to break itself up.
PHOTO: ASSOCIATED PRESS
By GREG BENSINGER and GILLIAN TAN
Updated July 9, 2015 6:59 p.m. ET
Days ahead of its planned breakup, eBay Inc. suffered a blow in its effort to sell its eBay Enterprise unit, as one of the division’s biggest customers said it would move much of its business elsewhere.
Toys “R” Us Inc. on Thursday said it would take control of its U.S. e-commerce operations by mid-2016, rather than relying on eBay Enterprise. The announcement comes at an inopportune time for eBay, which has been in talks with Thomas H. Lee Partners LP to sell the unit for as much as $1 billion, according to people familiar with the matter.
The e-commerce company has been searching for a buyer since at least January, when it said it could also seek a spinoff of the division. In recent weeks, Thomas H. Lee had outbid other potential suitors including a grouping of private-equity firms, Apax Partners and Sterling Partners, people familiar with the matter said.
Even before the Toys “R” Us announcement, talks between eBay and Thomas H. Lee had reached a standstill over price. The two sides have discussed a price range of between $800 million and $1 billion, two of the people said. That price would be less than half the $2.4 billion that eBay paid in 2011 for the unit, then known as GSI Commerce.
In the hopes of securing a deal, eBay had extended the prior deadline of June 30 to July 15, which is two days before eBay’s planned split from its PayPal payments unit, according to one of the people.
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www.wsj.com/articles/ebays-enterprise-unit-takes-a-hit-amid-sale-talks-1436478012
EBay’s Enterprise Unit Takes a Hit Amid Sale Talks
Client Toys ‘R’ Us to take control of its own e-commerce operations
Toys on display at a Toys “R” Us store in Colonie, N.Y. The company is moving to take control of its own e-commerce operations, as eBay prepares to break itself up.
PHOTO: ASSOCIATED PRESS
By GREG BENSINGER and GILLIAN TAN
Updated July 9, 2015 6:59 p.m. ET
Days ahead of its planned breakup, eBay Inc. suffered a blow in its effort to sell its eBay Enterprise unit, as one of the division’s biggest customers said it would move much of its business elsewhere.
Toys “R” Us Inc. on Thursday said it would take control of its U.S. e-commerce operations by mid-2016, rather than relying on eBay Enterprise. The announcement comes at an inopportune time for eBay, which has been in talks with Thomas H. Lee Partners LP to sell the unit for as much as $1 billion, according to people familiar with the matter.
The e-commerce company has been searching for a buyer since at least January, when it said it could also seek a spinoff of the division. In recent weeks, Thomas H. Lee had outbid other potential suitors including a grouping of private-equity firms, Apax Partners and Sterling Partners, people familiar with the matter said.
Even before the Toys “R” Us announcement, talks between eBay and Thomas H. Lee had reached a standstill over price. The two sides have discussed a price range of between $800 million and $1 billion, two of the people said. That price would be less than half the $2.4 billion that eBay paid in 2011 for the unit, then known as GSI Commerce.
In the hopes of securing a deal, eBay had extended the prior deadline of June 30 to July 15, which is two days before eBay’s planned split from its PayPal payments unit, according to one of the people.
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