Variety | EBay Rejects GameStop’s $56 Billion Takeover Bid: ‘Your Proposal Is Neither Credible nor Attractive’ by Todd Spangler
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Online retail giant eBay rejected GameStop CEO Ryan Cohen’s unsolicited $56 billion takeover proposal, deeming it “neither credible nor attractive.” The non‑binding offer, submitted on May 3, valued eBay at $55.5 billion and proposed a purchase price of $125 per share—half cash, half GameStop stock—with a $20 billion debt financing commitment from TD Securities. After a “thorough review,” eBay’s board cited concerns about the company’s standalone prospects, uncertainty over the financing, potential impacts on long‑term growth and profitability, leverage and operational risks of a combined entity, valuation implications, and GameStop’s governance structure. Chairman Paul Pressler emphasized that eBay’s current strategy and management position it for sustainable growth and shareholder value. Cohen’s inability to explain the financing on CNBC and eBay’s share price—peaking at $111.38 and closing at $108.13, well below the proposed $125—underscored investor skepticism.
Read more: https://variety.com/2026/digital/news/ebay-rejects-gamestop-merger-proposal-1236745743/
#EBay #GameStop #RyanCohen #TDSecurities #PaulPressler