Yahoo!Agrees to Tender Its Stake in Gmarket to eBay
SUNNYVALE, Calif., -- Yahoo! Inc. (Nasdaq:YHOO) announced that it has agreed to sell its approximate 10% share in Gmarket (Nasdaq:GMKT), a retail e-commerce marketplace in Korea, to eBay (Nasdaq:EBAY) as part of eBay's announced tender offer for shares of Gmarket. Yahoo! will continue to maintain its other operations in South Korea following the sale.
On April 15, 2009, eBay announced that it was commencing a tender offer to acquire all common shares and all American Depository Shares of Gmarket for a per share price of US $24.
About Yahoo! Inc.
Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! is focused on powering its communities of users, advertisers, publishers, and developers by creating indispensable experiences built on trust. Yahoo! is headquartered in Sunnyvale, California. For more information, visit pressroom.yahoo.com.
On April 15, 2009, eBay announced that it was commencing a tender offer to acquire all common shares and all American Depository Shares of Gmarket for a per share price of US $24.
About Yahoo! Inc.
Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! is focused on powering its communities of users, advertisers, publishers, and developers by creating indispensable experiences built on trust. Yahoo! is headquartered in Sunnyvale, California. For more information, visit pressroom.yahoo.com.
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