Investor sues, calls eBay's $2.4B offer for GSI "bargain price"

03/30/2011 | Bloomberg

GSI Commerce shareholder Southeastern Pennsylvania Transportation Authority filed a lawsuit against the company and eBay, saying the auction website's $2.4 billion buyout offer is too low. The deal calls for GSI to sell 70% of online retailers Rue La La and ShopRunner, as well as divest its business for licensed sports merchandise. EBay would then sell the assets to a company created by GSI CEO Michael Rubin.

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