EBay to buy GSI in $2.4 billion deal

Reuters News
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Posted: Mar 28, 2011 10:35 AM

NEW YORK (Reuters) - EBay Inc plans to buy e-commerce company GSI Commerce for $2.4 billion, it said on Monday.

EBay will offer shareholders of GSI $29.25 per share, a 50.9 percent premium over its closing price on Friday.

GSI owns Web businesses such as flash site Rue La La and ShopRunner.

(Reporting by Phil Wahba; Editing by Derek Caney)