Overview
- eBay’s board turned down GameStop’s unsolicited offer and said the proposal was neither credible nor attractive.
- The bid offered $125 per share in cash and stock, valuing eBay at roughly $55.5–$56 billion and implying about a 46% premium to an earlier price.
- Ryan Cohen pitched using GameStop’s roughly 1,600 stores as an authentication and fulfillment network to bolster eBay’s marketplace.
- Directors cited unresolved financing that leaned on about $20 billion in debt reportedly from TD Securities, plus high leverage, integration risk, and governance concerns.
- Cohen holds about 5% of eBay and has signaled an appeal to shareholders, yet analysts and Moody’s doubt the path forward and Polymarket now puts the chance near 13%.