Ryan Cohen

GameStop (GME) has increased its stake in eBay (EBAY) to nearly 10%, according to an SEC filing, escalating tensions after eBay's board rejected GameStop's $55-56 billion takeover bid as 'neither credible nor attractive.' Ryan Cohen, GameStop's chairman, is shifting from a hopeful buyer to a major shareholder, positioning for a potential proxy fight. Cohen has committed approximately $500 million of his own money to support the deal and has dropped a proposed CEO performance award worth up to $35 billion to focus on the eBay acquisition. GameStop now holds about 43.4 million eBay shares, roughly 9.8% of the company, after converting derivatives into stock. Cohen has stated he wants to be CEO of eBay, not GameStop, signaling a long-term battle for control of the online marketplace.

1 reports · 1 sources · Updated Jul 21, 08:54 PM UTC

Ryan Cohen, chairman of GameStop, has publicly stated his intent to acquire eBay, declaring 'We're coming for eBay one way or another.' GameStop now holds a 9.8% stake in eBay (43.4 million shares) after purchasing additional shares and converting options. In May, GameStop made an unsolicited $56 billion offer (~$125 per share) for eBay, which the eBay board quickly rejected, citing concerns over financing and strategic logic. The bull case highlights Cohen's track record (building Chewy, fixing GameStop's balance sheet), GameStop's $7.38 billion cash reserve, and the potential synergy of using GameStop's 1,600 stores as authentication hubs for collectibles (42% of GameStop revenue). The bear case focuses on financing challenges: GameStop's market cap (~$10 billion) is one-quarter of eBay's (~$50 billion), and the only financing commitment is a non-binding $20 billion letter from TD Securities contingent on an investment-grade rating. eBay's strong performance (19% revenue growth in Q1 2026) makes a hostile takeover harder to justify to shareholders.

1 reports · 1 sources · Updated Jul 21, 11:57 AM UTC

Ryan Cohen, chairman of GameStop, has escalated his pursuit of eBay, stating in a Bloomberg interview that he is 'coming for eBay one way or another.' GameStop now holds a 9.8% stake in eBay (43.4 million shares), following an unsolicited $56 billion acquisition offer (~$125 per share) that eBay's board rejected as 'neither credible nor attractive.' The article examines the bull case, citing Cohen's track record with Chewy, GameStop's $7.38 billion cash position, and the strategic logic of using GameStop's 1,600 stores as authentication hubs for collectibles (42% of GameStop revenue). The bear case highlights financing challenges, as GameStop's market cap (~$10 billion) is roughly one-quarter of eBay's (~$50 billion), and the only backing is a non-binding $20 billion letter from TD Securities contingent on investment-grade credit. eBay's strong performance under CEO Jamie Iannone (19% revenue growth in Q1 2026) further complicates the bid. Hedge fund data shows 61 funds held eBay at end of Q1 2026, with total dollar value declining.

1 reports · 1 sources · Updated Jul 21, 11:57 AM UTC

GameStop, led by CEO Ryan Cohen, has nearly doubled its stake in eBay to 9.8%, intensifying its unsolicited takeover bid after eBay's board rejected an earlier $57 billion cash-and-stock proposal. Cohen, known for transforming Chewy and reviving GameStop, has amassed 43.4 million eBay shares and is now one of the largest shareholders. He has expanded his advisory team and begun discussions with major institutional investors. The proposal faces significant skepticism due to GameStop's market cap being only one-fifth of eBay's, and a $20 billion financing commitment from TD Securities depends on the merged entity achieving investment-grade credit. Cohen envisions creating a broader digital commerce platform to compete with Amazon, while eBay has focused on higher-margin categories like trading cards and luxury goods. GameStop claims it could cut $2 billion in annual costs post-merger, though details remain unclear.

1 reports · 1 sources · Updated Jul 20, 11:49 AM UTC

GameStop has increased its stake in eBay to nearly 10%, according to an SEC filing, as the gaming retailer continues to pursue a takeover despite eBay's rejection of its initial $56 billion bid in May. GameStop now owns over 43 million shares, including 3.5 million purchased in June for $381 million and 39 million shares settled via put/call pairs. CEO Ryan Cohen has dropped his performance pay package to focus on the acquisition and has publicly stated he prefers a collaborative deal but will take the matter to shareholders if necessary. Cohen has outlined plans to use GameStop stores as nodes for eBay's marketplace and live commerce. eBay has not engaged further with Cohen since rejecting the initial offer.

1 reports · 1 sources · Updated Jul 20, 11:47 AM UTC

GameStop disclosed in an SEC filing that it now owns 43.4 million shares of eBay, representing a 9.8% stake, up from a 5% economic stake in early May. The videogame retailer's CEO, Ryan Cohen, had previously made an unsolicited $56 billion cash-and-stock offer to buy eBay, which was rejected as 'neither credible nor attractive.' Cohen has since converted derivatives into common shares, including settling 39 million eBay shares from put/call pairs. He stated in a Bloomberg interview, 'We're coming for eBay one way or another,' and has committed $500 million of his own money to the deal. GameStop shareholders approved increasing authorized shares to provide more flexibility. Wall Street has questioned the financing plan, which relies on a non-binding $20 billion debt commitment from TD Securities contingent on an investment-grade credit rating. Cohen declined to raise his offer, saying he would not 'negotiate against myself.'

1 reports · 1 sources · Updated Jul 17, 11:03 PM UTC

GameStop CEO Ryan Cohen stated that Sony's plan to halt physical game disc production by 2028 is 'totally irrelevant' to the company's business, as software now accounts for less than 12% of revenue. Speaking to BloombergTech, Cohen emphasized that collectibles, including apparel, toys, and trading cards, now drive over half of GameStop's business. This comes amid GameStop's controversial $56 billion unsolicited bid to acquire eBay, which eBay's board rejected as 'neither credible nor attractive.' GameStop's FY2025 financials show software revenue dropped 27% to $729.3 million (20.1% of total), while collectibles surged 47% to $1.06 billion (29.2%). Hardware and accessories remain the largest category at $1.84 billion (50.7%). Cohen plans to take the eBay offer directly to shareholders.

1 reports · 1 sources · Updated Jul 17, 01:51 PM UTC

GameStop CEO Ryan Cohen stated that Sony's plan to halt physical game disc production by 2028 is 'totally irrelevant' to the company's business, as software now accounts for less than 12% of revenue while collectibles make up over half. The comments came during a BloombergTech interview amid GameStop's controversial $56 billion unsolicited bid to acquire eBay. Cohen's characterization slightly differs from GameStop's own filings, which show software at 20.1% of FY2025 net sales ($729.3 million), collectibles at 29.2% ($1.06 billion), and hardware/accessories at 50.7% ($1.84 billion). However, year-on-year trends support his stance: software revenue dropped 27.5% while collectibles surged 47.7%. eBay's board rejected the acquisition proposal as 'neither credible nor attractive,' but Cohen plans to take the offer directly to shareholders.

1 reports · 1 sources · Updated Jul 17, 01:51 PM UTC

GameStop CEO Ryan Cohen stated that Sony's plan to halt physical game disc production by 2028 is 'totally irrelevant' to the company, as software now accounts for less than 12% of revenue while collectibles make up over half. The comments came during a Bloomberg interview focused on GameStop's controversial $56 billion unsolicited bid to acquire eBay, which eBay's board rejected as 'neither credible nor attractive.' GameStop's FY2025 financial data shows software revenue dropped 27% to $729.3 million (20.1% of total), while collectibles surged 47% to $1.06 billion (29.2%). Hardware and accessories remain the largest category at $1.84 billion (50.7%). Cohen plans to take the eBay offer directly to shareholders.

1 reports · 1 sources · Updated Jul 17, 01:51 PM UTC

GameStop CEO Ryan Cohen concluded a high-profile eBay selling event, generating $168,421.39 from personal collectibles. This stunt was launched after GameStop's unsolicited $55.5 billion acquisition offer for eBay was rejected, with Cohen stating he was selling items to help pay for the platform. The highest-selling item was a large Master Chief statue from Halo 2, which fetched $15,100 after 105 bids. Other significant sales included two signs from closed GameStop stores for $14,921 and South Park statues for $13,400. A Donald Trump trading card also sold for $6,470. Although the total earnings represent a negligible fraction of the proposed acquisition price, the event garnered significant media attention. Cohen's eBay account was temporarily suspended due to high price points but was quickly reinstated. Some items, such as used socks, were removed for violating policy. The event underscores Cohen's aggressive and unconventional approach to corporate strategy and public engagement as he continues to pursue leadership over a combined GameStop and eBay entity.

1 reports · 1 sources

GameStop CEO Ryan Cohen has proposed a $56 billion acquisition of eBay, a move widely ridiculed by Wall Street traders and sophisticated investors who deem the offer neither credible nor attractive. eBay’s board rejected the proposal, citing financing gaps and strategic misalignment, as Cohen’s retail background contrasts sharply with eBay’s profitable e-commerce model. Critics highlight that Cohen’s disclosed resources—$9 billion in cash and $20 billion in borrowed funds—fall short of eBay’s market capitalization, suggesting potential shareholder dilution. However, the author argues against dismissing Cohen entirely, noting his operational success in stabilizing GameStop since 2023. Despite GameStop being a struggling retailer, Cohen strengthened its balance sheet and maintained a $10 billion market cap through strategic store closures and cash accumulation. Unlike other meme stocks that collapsed, GameStop remains viable under his leadership. Cohen, also the founder of Chewy, appears undeterred by the rejection and has hinted at a possible hostile bid. Analysts suggest there may be method to his apparent madness, viewing this as a potential exit strategy for GameStop. The situation underscores the tension between traditional financial skepticism and Cohen’s unconventional track record in turning around distressed assets.

1 reports · 1 sources

This article provides an analytical perspective on GameStop Corp.'s unexpected takeover bid for eBay Inc., characterizing the move not as a genuine financial acquisition attempt but as a strategic maneuver by GameStop CEO Ryan Cohen. According to Matt Levine of Bloomberg, the proposal serves as a bizarre yet calculated method to force eBay's board of directors and shareholders to consider Cohen's personal desire to lead the e-commerce giant. The analysis highlights that Cohen lacks the necessary capital to actually purchase eBay, suggesting the bid is effectively a high-profile job application rather than a traditional corporate merger. The piece explores the implications of this unconventional strategy within the context of corporate governance and activist investing. Additionally, the newsletter briefly touches upon unrelated financial topics, including legal fees associated with fund formation for Adani Green. The primary focus remains on the intricate dynamics between GameStop and eBay, illustrating how non-traditional tactics are being employed to influence executive leadership changes in major technology and retail corporations.

1 reports · 1 sources

eBay’s board of directors has formally rejected an unsolicited acquisition proposal from GameStop CEO Ryan Cohen, describing the offer as neither credible nor attractive. Cohen had previously outlined a plan during a CNBC interview to acquire eBay, a company valued at approximately $56 billion, using $20 billion in stock and $20 billion in private investment. eBay Chairman Paul S. Pressler responded with a letter citing significant concerns regarding the financial proposal's uncertainty, potential leverage risks, and negative impacts on long-term growth. The board also highlighted issues with GameStop’s governance and executive incentives. Cohen’s remarks, including his admission that he lacks passion for GameStop and prefers leading eBay, have drawn sharp criticism and confusion from analysts and journalists. Techdirt characterizes the bid as bizarre and mathematically unsound, noting that eBay is five times larger than GameStop. The rejection underscores the disconnect between Cohen’s ambitions and corporate reality, leaving questions about his future leadership at GameStop amidst poor company performance and controversial public statements.

1 reports · 1 sources

This financial analysis argues that Costco (COST) represents a superior investment choice compared to GameStop (GME), particularly for retirement portfolios seeking stability. The article critiques GameStop's recent performance, highlighting a 16.84% miss on Q3 revenue estimates, a significant increase in long-term debt to $4.16 billion, and high volatility with a beta of 1.833. It dismisses the hype surrounding Ryan Cohen's bid for eBay as speculative theater with low probability of success. In contrast, Costco is praised for its robust subscription-based business model, which generates predictable recurring revenue and supports consistent dividend growth. The retailer reported 45.5% earnings growth and maintains a strong return on equity of 29.6%. With a lower beta of 0.908 and steady long-term stock appreciation, Costco offers the capital efficiency and price stability suitable for conservative investors. The piece also briefly mentions Walmart's strong performance but positions Costco as the primary alternative to the risks associated with meme stocks like GameStop.

1 reports · 1 sources

In May 2026, eBay officially rejected GameStop’s unsolicited $55 billion takeover proposal, labeling the offer neither credible nor attractive due to significant financing challenges and potential debt burdens. Wall Street analysts largely dismissed the bid as unrealistic, citing GameStop’s smaller market capitalization compared to eBay. Despite the rejection, GameStop CEO Ryan Cohen signaled intentions to persist. Concurrently, the trading card collectibles market continues to surge, with secondary-market sales exceeding $616 million in April 2026 and record grading volumes reported by Card Ladder and GemRate. Industry confidence remains high, bolstered by long-term investments such as Fanatics’ exclusive deal with FIFA. However, fraud concerns are rising; PSA reported preventing over $200 million in counterfeit collectibles in 2025, with Pokémon cards and iconic sports cards being primary targets. Additionally, Nikola Jokic joined the million-dollar card club with a recent sale, highlighting the sustained financial interest in modern sports memorabilia. The article also reflects on historical market dynamics, referencing the 1990s Fleer production era.

1 reports · 1 sources

eBay has officially rejected an unsolicited $56 billion takeover offer from GameStop, deeming the proposal neither credible nor attractive. eBay’s board cited significant concerns regarding GameStop’s financing structure, potential operational risks, and the excessive debt burden of the deal. Despite GameStop CEO Ryan Cohen’s ambition to merge the companies to compete with Amazon, eBay emphasized its strong standalone financial position and successful strategic turnaround. The rejection highlights the vast disparity in market capitalization between the two firms and underscores skepticism about GameStop’s ability to fund such a massive acquisition.

41 reports · 21 sources · Updated Jun 29, 01:52 PM UTC

eBay’s board has officially rejected an unsolicited $56 billion acquisition offer from GameStop CEO Ryan Cohen, deeming the proposal neither credible nor attractive. The rejection cites significant concerns regarding financing uncertainty, operational risks, and the substantial debt burden required for a company four times GameStop’s size. Despite Cohen’s claims of secured funding and potential synergies to compete with Amazon, analysts and eBay’s leadership emphasized the lack of strategic fit and financial feasibility. The decision underscores eBay’s confidence in its standalone growth trajectory, while GameStop faces investor skepticism and stock volatility following the failed high-profile bid.

24 reports · 18 sources · Updated May 17, 10:30 PM UTC

GameStop CEO Ryan Cohen has firmly responded to eBay's rejection of his unsolicited $56 billion takeover bid, asserting that the e-commerce giant's board should not dismiss the offer without proper engagement. In a letter to eBay Chairman Paul Pressler and an interview with Piers Morgan, Cohen argued that shareholders deserve the opportunity to evaluate the $125 per share proposal. He criticized eBay's management, specifically highlighting CEO Jamie Iannone's substantial compensation compared to his own owner-operator model at GameStop. Cohen hinted at potential next steps to pressure the board, including possible moves to influence director elections, although analysts note his current 5% stake may be insufficient for such actions. eBay previously rejected the bid citing concerns over financing, long-term growth impact, and leadership structure. Cohen emphasized his commitment by noting his significant personal investment in GameStop stock and lack of salary, contrasting this with eBay's executive pay structures. The situation highlights a significant corporate conflict as Cohen seeks to combine the two companies despite eBay's stance that the proposal is neither credible nor attractive.

1 reports · 1 sources

GameStop CEO Ryan Cohen has formally urged eBay's board of directors not to dismiss his $56 billion takeover proposal without thoroughly engaging with its substance. In a letter addressed to the chairman of eBay, Cohen argued that shareholders deserve a fair opportunity to evaluate the offer, which consists of a mix of stock and cash. This communication follows eBay's rejection of the bid on Tuesday, just one day prior to Cohen's latest statement. According to the letter reviewed by Reuters, Cohen had previously requested a meeting with eBay's board to discuss the proposal, but the request was declined. The situation highlights an escalating corporate conflict between the two major e-commerce entities. Cohen's insistence suggests he intends to keep pressure on eBay's leadership, potentially appealing directly to shareholders or pursuing further aggressive tactics to force a reconsideration of the deal. The event underscores significant volatility in the retail sector and raises questions about corporate governance and shareholder rights in high-stakes merger negotiations.

1 reports · 1 sources

GameStop CEO Ryan Cohen has intensified his campaign to acquire eBay, proposing a $125 per share deal structured as half cash and half stock. In a recent podcast interview, Cohen outlined his strategy to transform eBay under an owner-operator model, leveraging his e-commerce experience from Chewy. He argues that eBay is significantly underperforming due to excessive expenses, citing $5.5 billion in costs against $11 billion in revenue, and promises $2 billion in immediate cost cuts to boost profitability. Although eBay’s board rejected the initial offer as not credible, Cohen remains undeterred, asserting that the deal is highly attractive to shareholders despite being unfavorable to current management who face replacement. Backed by approximately $9 billion in cash and a $20 billion financing commitment, Cohen plans to bypass the board and appeal directly to eBay shareholders. He emphasizes that e-commerce is within his circle of competence and views eBay as the second-largest e-commerce asset in the U.S. with substantial untapped potential for long-term growth and value creation.

1 reports · 1 sources

North American markets adjusted to hotter-than-expected inflation data on May 13, 2026, as the April Producer Price Index surged 1.4%, significantly exceeding the 0.5% consensus. This follows a robust CPI print, leading traders to increase odds of Federal Reserve rate hikes rather than cuts. In key political developments, the US Senate confirmed Kevin Warsh to the Federal Reserve Board in a 51-45 vote, with his confirmation as Fed Chair anticipated immediately after Jerome Powell’s term ends. Corporate activity remained high-profile: eBay rejected GameStop’s unsolicited $56 billion takeover bid, citing financing risks and valuation concerns. Meanwhile, Wendy’s shares jumped 14% on reports that Trian Fund Management is exploring a take-private deal. Apple reached a new all-time closing high of $294.80, bolstered by a preliminary chip manufacturing agreement with Intel. Additionally, the US Treasury reported a $215 billion surplus for April. These events collectively signal a shifting monetary policy landscape and active M&A environment in the United States.

1 reports · 1 sources

eBay’s board of directors has formally rejected GameStop’s unsolicited $55.5 billion acquisition offer, describing the proposal as neither credible nor attractive. In a letter addressed to GameStop CEO Ryan Cohen, eBay Board Chairman Paul Pressler cited significant uncertainties regarding the funding of the deal, concerns about GameStop’s corporate governance and executive incentives, and strong confidence in eBay’s standalone strategic prospects. The rejection follows an ambitious but vague bid by Cohen, who attempted to acquire a company nearly four times GameStop’s size. In a controversial move linked to the bid, Cohen listed high-priced GameStop merchandise on eBay, including a cap for $4,950 and a mug for $3,151, ostensibly to help finance the purchase. Following the announcement of the rejection, GameStop shares dropped 4.5 percent in premarket trading. Meanwhile, eBay continues its reinvention strategy amidst competition from Amazon and Walmart, with its stock price rising 24 percent this year. This event marks a definitive end to the short-lived takeover attempt, highlighting the disparity in valuation and strategic alignment between the two retail entities.

1 reports · 1 sources

Financial analyst Felix Salmon characterizes GameStop’s $54 billion acquisition offer for eBay as largely performative rather than a viable merger. The proposed deal, structured with 50% cash and 50% stock, would require GameStop to issue four times its current outstanding shares, causing significant dilution and a double-digit drop in GME stock. With only $9 billion in cash against a $28 billion cash requirement, the financing relies on non-binding letters. Despite eBay rejecting the bid, GameStop CEO Ryan Cohen benefits financially. Holding nearly 5% of eBay, Cohen realizes mark-to-market gains from the 46% premium induced by the announcement. Prediction markets assign only a 21.5% probability to the deal's completion. The article highlights that Cohen’s true strength lies in GameStop’s strengthened balance sheet, including $9 billion in cash and potential warrant proceeds, allowing flexibility for future investments. Meanwhile, eBay executives appear to be capitalizing on the stock rally through share sales. The situation underscores a strategic maneuver where Cohen enhances asset value without necessarily executing the acquisition.

1 reports · 1 sources

eBay Inc. has officially rejected an unsolicited takeover offer from GameStop Corp. valued at approximately $55.5 billion. The proposal, which suggested a payment structure of half cash and half common stock, was dismissed by eBay’s board of directors as neither credible nor attractive. Paul S. Pressler, chair of eBay’s board, cited significant uncertainty regarding the deal's financing and potential negative impacts on eBay’s future strategic direction as primary reasons for the rejection. This decision preserves the status quo for the global e-commerce leader, particularly its growing presence in the preloved fashion market through its recent acquisition of Depop. Analysts note that GameStop’s retail-centric model, characterized by strict retailer control over pricing and logistics, clashes with eBay’s community-driven platform that favors direct seller-customer interactions. With GameStop managing significantly fewer secondhand items compared to eBay’s vast inventory, experts argue the merger would have disrupted the user experience favored by eco-conscious shoppers. The rejection marks the end of a brief but high-profile attempt by the gaming retailer to expand into broader e-commerce sectors.

1 reports · 1 sources

eBay has officially rejected an unsolicited $56 billion takeover offer from GameStop, describing the proposal as neither credible nor attractive. The bid, led by GameStop CEO Ryan Cohen, valued eBay at $125 per share in a mix of cash and stock. GameStop had disclosed earlier in May 2026 that it was pursuing the acquisition to create a competitive alternative to Amazon, proposing to utilize its 1,600 U.S. retail stores as drop-off and shipping hubs for eBay products. Additionally, the plan included integrating live sales broadcasts from GameStop locations. eBay currently holds a 5% stake in the company, having begun accumulating shares in February. In a formal letter to Cohen, eBay Chairman Paul Pressler stated that the board had thoroughly reviewed the offer and remained confident in eBay’s current strategy and management team. The board emphasized that eBay is a strong, resilient business well-positioned for sustainable growth and long-term shareholder value under its existing leadership. Following the rejection news, GameStop’s stock price dropped by 4% before the market open. This event highlights a significant clash between the traditional online marketplace and the video game retailer attempting to pivot into broader e-commerce.

1 reports · 1 sources

eBay Inc. has officially rejected an unsolicited $56 billion takeover offer from video game retailer GameStop, describing the proposal as neither credible nor attractive. The eBay board stated that the company is well-positioned under current management to drive sustainable growth and deliver long-term shareholder value. GameStop, led by CEO Ryan Cohen, had proposed acquiring eBay for $125 per share in a mix of cash and stock, representing a 46% premium at the time of announcement. Cohen aims to expand GameStop’s e-commerce capabilities to compete with giants like Amazon, leveraging synergies in collectibles sales. However, analysts remain skeptical about the feasibility of the deal, noting GameStop’s $10 billion market cap is significantly lower than eBay’s $48 billion valuation. While investment bank TD Securities expressed confidence in raising up to $20 billion, questions persist regarding financing. GameStop, which recently closed hundreds of stores and reported declining revenue, holds a 5% stake in eBay and had threatened to take the offer directly to shareholders if rejected by the board.

1 reports · 1 sources

eBay has officially rejected a $56 billion takeover proposal from GameStop, describing the offer as neither credible nor attractive. In a letter to GameStop CEO Ryan Cohen, eBay’s board cited significant concerns regarding financing uncertainty, excessive leverage, operational risks, and governance issues within a potential combined entity. The board emphasized its confidence in eBay’s current management team and standalone long-term strategy. The proposed deal was valued at approximately $125 per share in cash and stock. Following the announcement, shares of both companies traded slightly lower. Beyond this major corporate development, the report highlights key economic data, noting that April’s Core CPI rose 0.4%, surpassing consensus expectations due to energy-driven inflation, which may keep the Federal Reserve on hold through the summer. Additionally, Quantum Computing saw its stock surge after reporting a nearly 9,000% revenue jump, though analysts remain cautious. Zebra Technologies raised its full-year EPS guidance after beating Q1 estimates, while Under Armour’s stock fell due to weak forward guidance and expected revenue declines.

1 reports · 1 sources

eBay's board of directors has formally rejected an unsolicited acquisition offer from GameStop, describing the proposal as neither credible nor attractive. The bid, initiated by GameStop CEO Ryan Cohen, valued eBay at approximately $55.5 billion, representing a 46 percent premium over its February closing price. eBay cited significant concerns regarding GameStop's financing plan, which relied heavily on third-party debt and stock, as well as operational risks and governance issues within GameStop. The e-commerce giant emphasized that it is better positioned as a standalone entity with a clear strategic direction. Analysts had previously expressed skepticism about the financial feasibility of the deal, especially after Cohen's ambiguous responses during media interviews. GameStop had intended to leverage its remaining retail stores for authentication and fulfillment services to compete with Amazon. However, eBay highlighted its recent successful pivot toward collectibles and antiques as a reason to remain independent. This rejection concludes a brief but notable corporate saga that began with GameStop's surprise announcement in May 2026, marking a definitive end to the meme-stock retailer's attempt to acquire the much larger online marketplace.

1 reports · 1 sources

eBay has officially rejected a $56 billion unsolicited takeover bid from video game retailer GameStop, labeling the proposal neither credible nor attractive. eBay Chairman Paul Pressler cited significant concerns regarding financing, the impact on long-term growth, and leadership structure. The e-commerce giant emphasized its strong performance under CEO Jamie Iannone, noting a 201 percent stock return over six years. GameStop CEO Ryan Cohen, who holds a 5 percent stake in eBay, had proposed a half-cash, half-stock deal backed by a conditional $20 billion debt commitment from TD Bank. However, analysts and credit agencies like Moody’s doubt the combined entity would achieve an investment-grade rating, a key condition for financing. While Cohen argues the merger would create synergies and challenge Amazon, critics point to eBay’s superior profitability margins compared to GameStop. Following the rejection, Cohen hinted at taking the offer directly to shareholders, though this requires a larger stake. The move has divided investors, with notable figures like Michael Burry selling stakes due to debt concerns. eBay’s stock traded below the offer price, reflecting market skepticism about the deal's viability.

1 reports · 1 sources

Online marketplace eBay has officially rejected an unsolicited $55 billion takeover offer from GameStop Executive Chairman Ryan Cohen, labeling the proposal as neither credible nor attractive. The article argues that Cohen's move was primarily a media stunt rather than a serious business strategy, highlighting his history of controversial investments, such as Bed Bath & Beyond. Under CEO Jamie Iannone, eBay has demonstrated strong financial performance, with its stock rising 56% over the past year, whereas GameStop's shares have declined by 16% since Cohen assumed leadership. Analysts note that the proposed deal would have required excessive leverage, likely resulting in a junk credit rating for the combined entity. B. Riley strategist Art Hogan criticized the feasibility of the financing, comparing the merger attempt to tying two rocks together to see if they would float. The author reiterates a challenge to Cohen to publicly debate his long-term plans for GameStop and the funding logic behind the failed eBay bid, emphasizing the lack of strategic synergy and financial prudence in the offer.

1 reports · 1 sources