Internet
eBay in Tentative Deal for Gmarket Stake
eBay(EBAY) reached a tentative agreement to buy a controlling stake in Gmarket(GMKT), South Korea's largest online auction service by revenue and market share, for $24 a share, the Wall Street Journal reports, citing a source.
eBay and the sellers of the 34.2% stake in Gmarket -- Interpark Corp. and its Chairman Lee Ki-hyong -- are expected to sign off on the deal Thursday after the boards of the companies meet, the Journal reports. Representatives of eBay and Interpark declined to comment for the Journal. The price is a 24% premium to Gmarket's closing price Tuesday of $19.34. The stock rose sharply earlier this week on a report from online newspaper edaily that eBay would buy the 34.2% stake in Gmarket for $24 a share, or $413 million. With the deal, eBay would become the largest player in the South Korean electronic commerce market. An eBay subsidiary, Internet Auction, already operates the second-largest auction Web site in South Korea, according to the Journal.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
Connect with TheStreet