eBay Rejects GameStop's $56 Billion Acquisition Offer

On May 12, market sources reported that eBay has rejected GameStop’s acquisition offer of approximately $56 billion, citing the reasons as “neither credible nor attractive.” Previously, on May 4, GameStop had proactively proposed to acquire the American online marketplace eBay for about $56 billion. GameStop’s CEO Cohen stated that the company holds about 5% of eBay’s shares and proposed to acquire it for $125 per share in cash and stock. If eBay does not accept this proposal, Cohen is prepared to initiate a proxy battle and present the proposal directly to shareholders.

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