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EBay Inc.'s board of directors approved the completion of the company's separation with PayPal Inc. The two entities are expected to split into independent publicly traded companies on July 17.
The separation will be enacted through a pro rata distribution of all of the stock of eBay's subsidiary PayPal Holdings Inc. to eBay stockholders, according to a June 26 news release. The distribution remains subject to satisfaction of the conditions described in the preliminary information statement filed with the Form 10, including, but not limited to, obtaining all necessary regulatory approvals, including that of...