GameStop’s Meme Stock Takeover Attempt Of eBay Ends With A Brutal Rejection

eBay’s board rejected Ryan Cohen’s unsolicited $56 billion takeover proposal.

The company said the bid was not credible or attractive and raised financing, leverage, and long-term value concerns.

Cohen’s plan would have depended on heavy borrowing and stock dilution, making the deal highly risky.

The rejection ends a headline-grabbing takeover attempt that analysts viewed as unlikely from the start.