ICE Drops Pursuit of eBay Deal

Intercontinental Exchange, the owner of New York Stock Exchange abandons bid for eBay after 'investor conversations."
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Shares of eBay  (EBAY) - Get Report fell while those of Intercontinental Exchange  (ICE) - Get Report rose in after-hours trading Thursday after the owner of the New York Stock Exchange said it was no longer pursuing a deal with the online auction site. 

In a statement Thursday, Intercontinental said that "Based on investor conversations following today’s ICE earnings call, ICE has decided to cease exploring strategic opportunities with eBay."

Reports of a possible deal had sent eBay sharply higher earlier this week. 

Earlier Thursday, Intercontinental reported financial results in line with analyst estimates.  The company said it made 95 cents a share, vs 94 cents a year earlier. 

Shares of eBay fell $2.27, or 6% to $35.73 in after-hours action. ICE shares rose $2.89, or 3.2%, to $93.00.

In a statement earlier this week, ICE said that it had approached eBay but that  "eBay has not engaged in a meaningful way."