Thursday, February 10, 2005
EBay Pays Cash, Not Stock For Rent.com
Internet auction giant EBay said Monday in a filing with the SEC that it will now pay cash, not stock for Santa Monica-based Rent.com. The move comes after eBay's stock price fell in response to its plan to raise seller listing fees. EBay had originally planned to purchase Rent.com for $415M, $30M in cash and the rest in stock. The transaction now calls for the purchase to be $415M in cash. The company said that the total amount payable by Ebay has not changed.