Stifel Nicolaus Comments On eBay's Buyout Offer To GSI (EBAY, GSIC)

In a report released this morning, Stifel Nicolaus said that it believed eBay (NASDAQ: EBAY) “will prevail at the $29.25 price” in the GSI Commerce (NASDAQ: GSIC) buyout.

“There is a 40-day ‘go-shop' provision with matching rights by eBay,” Stifel Nicolaus writes. “We do not expect Amazon (NASDAQ: AMZN) to bid, as Amazon has been able to grow its revenues by 35% or more with smaller strategic acquisitions.

“We do not expect Google (NASDAQ: GOOG) to show interest. There may have been private equity interest at a price, but we doubt private equity would chase GSIC at $30 or higher.”

GSI Commerce closed Monday at $29.20; eBay closed at $30.34.