eBay Rejects GameStop's $56 Billion Takeover Bid as Not Credible
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.
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