Investor Carl Icahn, who owns a 2% stake in eBay, has been pushing for the company to spin off PayPal. Icahn has been waging war against two of eBay’s directors, accusing Marc Andreesen of self-dealings and disagreeing with Scott Cook’s position on the board. Lou Whiteman, senior writer for The Deal, details Icahn’s arguments and eBay’s response to them, as well as how Icahn is potentially standing in his own way when it comes to a potential PayPal spinoff. Whiteman explains that Icahn’s war against eBay’s directors is only distracting from what could be a smart deal.
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