"Your Proposal Is Neither Credible Nor Attractive" - eBay Rejects GameStop's Takeover Bid

eBay’s board has formally rejected GameStop’s $55.5 billion takeover offer.

The company questioned the bid’s credibility, financing, governance, and potential damage to long-term value.

GameStop CEO Ryan Cohen had pitched the deal as a way to better compete with Amazon.

eBay says it remains focused on its own strategy and growth as an independent company.