eBay to buy StubHub for $310 million

Online auctioneer eBay has agreed to buy sports ticket reseller StubHub for $310 million in cash, the companies said on Wednesday, confirming an earlier report the deal was imminent.

In a statement, eBay said the agreement has an estimated total price of $310 million, which will include StubHub's net cash at the time of the deal's closing. The final amount will be determined based on a formula at the time the deal closes.

The acquisition is expected to close in the first quarter of this year, subject to pending approvals by regulators and StubHub shareholders. More details will be revealed at the time of eBay's fourth-quarter conference call on January 24, it said.

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