The Bad PlaceThe Guardian | GameStop’s $55.5bn bid for eBay rejected as ‘neither credible nor attractive’ by Joanna Partridge
AI generated summary, Read the full article for complete information.
eBay’s board has turned down GameStop’s unsolicited $55.5 billion offer to buy the online marketplace, calling the proposal “neither credible nor attractive” and citing uncertainty over how GameStop would finance the deal, its borrowing levels, and the operational risks of merging the two companies. GameStop, which has accumulated a 5 % stake in eBay, proposed a price of $125 per share funded by about $9.4 billion of cash and roughly $20 billion of debt financing, leaving a shortfall of around $16 billion relative to its own market value of roughly $12 billion and eBay’s $46 billion valuation. CEO Ryan Cohen, who has been linked to GameStop since 2020, was unable to explain the financing during a CNBC interview and hinted at a possible hostile bid if the board remains unreceptive. The rejection comes amid GameStop’s recent store closures, its meme‑stock legacy, and eBay’s own strategic moves, including a pending $1.2 billion acquisition of the fashion resale app Depop.
#GameStop #EBay #PaulPressler #RyanCohen #Amazon #Depop #Etsy #CNBC #business #e_commerce #mergersandacquisitions #retailindustry
CyberVeille.ch
Hacker News
Twiintech
Hit new slatest
Michal Bogusz
NSW.Biodiversity
AliceheightsDigitals