Intercontinental Exchange is offering to buy eBay.

eBAY – NYSE

The owner of the New York Stock Exchange, Intercontinental Exchange (ICE), is offering to buy eBay Inc, which has a current market capitalization of over $28 billion, potentially valuing the company at over $30 billion.

ICE seems to be mostly interested in eBay’s core online platform, not the classifieds unit, which eBay considers to sell. ICE’s shareholders didn’t seem to like the news, which also bewildered analysts.

Meanwhile, eBay saw its stock price pop upon the announcement.