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eBay rejects GameStop's $56 billion takeover bid, calling it ‘neither credible nor attractive'
GameStop CEO Ryan Cohen's audacious $56 billion bid to acquire the much-larger eBay was rejected as neither credible nor attractive.
What: Ryan Cohen offered $125/share in cash-and-stock to acquire eBay ($48B market cap) despite GameStop's $10.3B market cap. eBay's board rejected it, citing financing uncertainty—Cohen had $20B from TD Securities plus $9B cash but a substantial funding gap remained.
Original article
eBay has several concerns with the offer, including uncertainty around GameStop's financing, operational risks, and the debt load that would result from the proposed transaction.
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