eBay Rejects GameStop’s $56B Bid Over Financing and Value Doubts
TL;DR Summary
eBay formally rejected GameStop's $56 billion proposal to acquire the marketplace, calling it not credible or attractive due to financing uncertainties, potential leverage and governance issues, and questions about how the deal would affect eBay's long-term growth and profitability. GameStop had claimed $20 billion in debt financing and could offer large stock options to Ryan Cohen if values rose, leaving room for a possible hostile attempt while GameStop continues to shutter stores to boost profitability.
- eBay's Rejection Letter To GameStop's $56 Billion Bid Pulls Absolutely No Punches GameSpot
- EBay rejects GameStop's $56 billion takeover bid, calling it 'neither credible nor attractive' CNBC
- eBay rejects GameStop’s $56 billion offer, calling it ‘neither credible nor attractive’ CNN
- EBay, the Old-School E-Commerce Site, Finds Its Place in Modern Retail The New York Times
- eBay Rejects Unsolicited Proposal from GameStop eBay Inc.
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