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Carl Icahn Walks Away From eBay Proxy Fight

Carl Icahn and eBay have settled their proxy fight, and it looks like the e-commerce pioneer has won: Icahn has dropped his demand to install two of his employees on eBay’s board, and will stop campaigning to split PayPal into a separate company. EBay’s concession to Icahn is a move to appoint former AT&T CEO David Dorman as an independent director.

This article originally appeared on Recode.net.