EBAY eBay Inc

By Allison Prang

eBay Inc.'s board thinks activist investor Starboard Value LP's nominations for eBay's board "are unwarranted and unreasonable," eBay said Thursday in prepared remarks.

"It is unclear what Starboard is hoping to accomplish through the appointment of four more candidates, other than to create unnecessary distraction and, as a relatively small minority investor, to obtain an outsized role on the Board," eBay said.

Starboard nominated four people to the company's board. On March 11, The Wall Street Journal said the investor nominated a minority slate of directors to the online marketplace company's board.

eBay said Thursday that one of its current board members was jointly agreed on with the activist investor a year earlier and that another member is a principal at activist investor Elliott Management.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

March 19, 2020 15:01 ET (19:01 GMT)

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