EBay Rejects GameStop’s $56 Billion Takeover as Not Credible
Bloomberg.com • • business
Key Points:
- EBay Inc. has rejected a $56 billion takeover bid from GameStop CEO Ryan Cohen, labeling the offer as “neither credible nor attractive.”
- EBay’s board cited concerns over the financing plan’s uncertainty, operational risks, and GameStop’s governance in their decision to turn down the bid.
- Chairman Paul Pressler highlighted issues with GameStop’s executive incentives and the potential negative impact on eBay’s long-term growth as reasons for rejecting the offer.