EBay rejects GameStop’s $56bn bid as ‘neither credible nor attractive’
Key takeaways
- Game Stop CEO Cohen, who has built a 5 percent position in e Bay, has hinted he may take offer directly to e Bay shareholders.
- “We have concluded that your proposal is neither credible nor attractive,” eBay Chairman Paul Pressler said in a statement.
- He also pointed to concerns with GameStop’s bid, including its financing, its effect on eBay’s long-term growth and the leadership structure of a potentially combined company.
Why this matters: an international story with cross-border implications worth tracking.
Game Stop CEO Cohen, who has built a 5 percent position in e Bay, has hinted he may take offer directly to e Bay shareholders.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo Game Stop surprised Wall Street by bidding to buy much bigger e Bay [File: Brendan Mc Dermid/Reuters]By Reuters Published On 12 May 202612 May 2026EBay has rejected a $56bn takeover bid from the much smaller Game Stop over financing doubts, calling the proposal “neither credible nor attractive”.
EBay, which has roughly four times GameStop’s market value, also underscored on Tuesday that its turnaround efforts under CEO Jamie Iannone have boosted growth, with its stock returning 201 percent since Iannone took the position six years ago.