eBay rejects GameStop's $56B takeover bid as "neither credible nor attractive"
eBay's board has formally rejected GameStop CEO Ryan Cohen's unsolicited $56 billion acquisition proposal, calling the bid both lacking in credibility and strategic merit. The rejection occurred amid continued activist pressure on eBay to explore strategic alternatives, including divestitures and business model overhauls.
The move reflects eBay's confidence in its standalone turnaround plan and skepticism of a retail-gaming vertical combination, though it signals ongoing proxy risk if operational improvements stall.