EBay Spurns GameStop’s Offer as Not Credible, Attractive

EBay Inc. rejected a $56 billion takeover offer from Game Stop Corp. Chief Executive Officer Ryan Cohen, describing the unsolicited bid as “neither credible nor attractive.” EBay’s board turned down the offer after taking into account “uncertainty” around the financing plan, the operational risks involved and Game Stop’s governance, Chairman Paul Pressler said in a letter addressed to Cohen. Pressler also cited Game Stop’s executive incentives and a takeover’s potential impact on e Bay’s long-term growth. Bloomberg's Cecilia D'Anastasio joins Bloomberg Intelligence Radio for a closer look. (Source: Bloomberg)