EBay Completes Offer For Gmarket
SAN JOSE, Calif. (AP) — EBay Inc. said Monday it has completed its tender offer for the South Korean online marketplace Gmarket Inc.
EBay said it had acquired more than 99 percent of the company's outstanding American depositary shares at $24 per share by the offer's expiration Friday. The company announced in April that it would pay as much as $1.2 billion for Gmarket. It plans to combine the company with another South Korean online marketplace, Internet Auction Company, or IAC, which eBay bought in 2001. EBay shares dropped 53 cents, or 3 percent, to $17.27 in morning trading.- Loading Comments...
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