multi source·37m ago·12 sources analyzed
eBay rejects GameStop's $56 billion takeover bid
eBay has declined an unsolicited offer from GameStop to acquire the online marketplace. The proposal was deemed unviable by eBay's board. (sources: bbc, theguardian, variety, cnbc, nytimes)
Image: theverge
ModernAction Briefing
GameStop's bid of $56 billion for eBay has been rejected. eBay's board expressed concerns about the credibility of GameStop's financing proposal.
- GameStop submitted a nonbinding offer of $125 per share for eBay.
- eBay's board characterized the offer as 'neither credible nor attractive.'
- Concerns were raised regarding how GameStop would finance the acquisition.
Why it matters
The rejection highlights the challenges faced by GameStop in expanding its business model beyond video game retailing.
Action context
No specific legislation identified for action yet.
Top coverage · 12 sources
bbceBay rejects $55.5bn offer from GameStoptheguardianGameStop’s $55.5bn bid for eBay rejected as ‘neither credible nor attractive’varietyEBay Rejects GameStop’s $56 Billion Takeover Bid: ‘Your Proposal Is Neither Credible nor Attractive’cnbcEBay rejects GameStop's $56 billion takeover bid, calling it 'neither credible nor attractive'