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Bulletin: eBay Inc. Ratings Unaffected By Gmarket Inc. Announcement Apr 09
Standard & Poors, April 2009
Abstract
NEW YORK (Standard & Poor's) April 17, 2009--Standard & Poor's Ratings Services said today that its ratings and outlook on San Jose, Calif.-based eBay Inc. (A-/Positive/--) are not affected by the company's recent announcement that it will make a cash tender offer of $24 per share for all outstanding shares of Korea based-Gmarket Inc. common shares and American Depository Shares. The purchase price will be up to $1.2 billion if all outstanding shares are tendered. At closing, eBay will hold at least 67% of Gmarket. In our opinion, the merged company could realize significant operational synergies, since eBay plans to combine Gmarket's operations with its existing Korean marketplace business, Internet Auction Company. The company is expected to close in the...
Companies mentioned in this report are: eBay Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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