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Carl Icahn
EBay plans PayPal spinoff in 2015
EBay plans PayPal spinoff in 2015

EBay Inc. plans to spin off its PayPal unit next year, bowing to activist investor Carl Icahn's argument that the move would free the fast-growing payments business to compete more fiercely in the competitive mobile payments market. The move, announced on Tuesday, is an about-face for eBay's top leadership, including CEO John Donahoe, who publicly resisted Icahn's push earlier this year and led a campaign to convince investors that eBay and PayPal should remain together. EBay's shares jumped as much as 8.8 percent after the announcement. Shares closed at $56.63 on Tuesday. An independent PayPal company would presumably include operations at three facilities in Timonium...