eBay's board has firmly rejected GameStop's unsolicited $55.5 billion acquisition offer, calling it 'neither credible nor attractive' in a letter to GameStop CEO Ryan Cohen. The board cited multiple concerns including financing uncertainty, impact on eBay's growth, and questions about GameStop's governance structure. The rejection could lead to a hostile takeover attempt as Cohen has suggested taking the offer directly to eBay shareholders.
Background
GameStop, a video game retailer, made headlines in 2021 during the meme stock phenomenon when retail investors drove its stock price to unprecedented highs. The company has since been attempting to transform its business model under the leadership of activist investor Ryan Cohen.
- Source
- Ars Technica
- Published
- May 13, 2026 at 01:18 AM
- Score
- 6.0 / 10