Uploaded by FinancialNewsOnline on Mar 23, 2012
Ebay (NASDAQ:EBAY) announced late Thursday that it plans to sell Rent.com to Primedia Inc.
Charles Stubbs, PRIMEDIA President and Chief Executive Officer, who will lead the combined company said, "Rent.com has a strong reputation, brand awareness, history and URL. Both Rent.com and PRIMEDIA have long track records of delivering a high-quality consumer and client experience in the marketplace."
The deal is expected to close sometime in the second quarter.
eBay (NASDAQ:EBAY) has potential upside of 4.8% based on a current price of $37.62 and an average consensus analyst price target of $39.43.
Charles Stubbs, PRIMEDIA President and Chief Executive Officer, who will lead the combined company said, "Rent.com has a strong reputation, brand awareness, history and URL. Both Rent.com and PRIMEDIA have long track records of delivering a high-quality consumer and client experience in the marketplace."
The deal is expected to close sometime in the second quarter.
eBay (NASDAQ:EBAY) has potential upside of 4.8% based on a current price of $37.62 and an average consensus analyst price target of $39.43.
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