Vivid Seats, KKR Among Suitors For StubHub As EBay Looks To Sell
StubHub has "drawn interest from suitors" including rival Vivid Seats and buyout firm KKR & Co., as eBay looks to sell the ticket marketplace, according to sources cited by Porter, Deveau &Tan of BLOOMBERG NEWS. Sources said that private equity firm Silver Lake is also "weighing a bid for StubHub, which could fetch" about $3B. Sources added that the sale process has "begun in recent weeks," and that "no decision has been made and the suitors may opt to not proceed with offers." eBay in March "announced a strategic review of assets including StubHub and its Classifieds Group in conjunction with a settlement agreement with activist investors Starboard Value and Elliott Management Corp., which had called for the sale or spinoff of those two divisions." Sources said that eBay "hasn’t yet decided if or when to proceed with a sale process for the Classifieds business" (BLOOMBERG NEWS, 9/3).