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ebay’s StubHub Purchase Complete
Internet auction site eBay Inc. said Tuesday it completed its purchase of online ticket broker StubHub Inc.
The $307 million cash deal, announced last month, is designed to provide growth for the Internet auctioneer. EBay (nasdaq: EBAY – news – people )’s market value has plunged by nearly 50 percent, or $37 billion, over the past two years amid investor concerns about slowing growth in its online auctions, prodding management to expand into other electronic commerce markets.
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