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Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector S
GameStop Stock Falls After eBay Rejects $56 Billion Takeover Bid
eBay's board rejected GameStop's $56 billion takeover bid, calling it "neither credible nor attractive." Now questions are growing over whether CEO Ryan Cohen will sell the company's $368 million bitcoin position to make the deal look more credible. CoinDesk's Sam Ewen hosts "CoinDesk Daily."
Another big L for Ryan Cohen.
The board cites financing gaps and governance concerns
eBay's board rejects GameStop's $56 billion takeover bid from Ryan Cohen, citing financing doubts as a hostile fight looms.
Ryan Cohen's bid for eBay is a bet he can trade an over-valued meme stock for a real company. Color us skeptical.
EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company
eBay (NASDAQ:EBAY) has turned down a proposed $56 billion takeover offer from GameStop (NYSE:GME), citing concerns over the credibility and financing structure of the proposed transaction. The bid would have seen GameStop — a company valued at roughly one-quarter of eBay’s size — attempt one of the most ambitious acquisitions in the retail and e-commerce sector in recent years.
Publicly traded online marketplace eBay slammed GameStop's unsolicited $55.5 billion acquisition offer as insufficient.
Online marketplace eBay (EBAY) has rejected GameStop's (GME) $56 billion takeover bid proposed last week, ultimately calling the offer "neither attractive nor credible." B. Riley Wealth chief market strategist Art Hogan joins Yahoo Finance Senior Reporters Brooke DiPalma and Ines Ferré in examining investor reactions and how GameStop CEO Ryan Cohen's investment strategy stacks up to the likes of Warren Buffett's.
In a letter to GameStop chief executive Ryan Cohen, eBay chairman Paul S Pressler confirmed the board had completed a thorough review alongside independent financial and legal advisers before arriving at its decision.
eBay rejected GameStop's $55.5 billion takeover offer, citing concerns about GameStop's financing plans.
The board of EBay labelled the proposal as ‘neither credible or attractive’.
GameStop CEO Ryan Cohen had argued that his company's retail locations would help eBay build a "national network."
GameStop, valued at about $12 billion, proposed to acquire a corporation nearly four times its size in a half-cash, half-stock deal valued at $125 each eBay share. The offer was neither credible nor attractive, eBay Chairman Paul Pressler said, arguing the company's present management team can keep it on the path of sustainable growth. The big question for investors is whether GameStop can actually finance the transaction without taking on a tonne of debt or diluting shareholders.
News of the day for May 12, 2026
eBay's board cited financing uncertainty, operational risks, and concerns about GameStop's governance in turning down the unsolicited offer
Online seller eBay is rejecting an unsolicited $56 billion takeover offer from GameStop, calling the proposal “neither credible or attractive.” Ryan Cohen’s GameStop disclosed earlier this month that it was pursuing a takeover of eBay, seeing it as a vehicle to compete with online retail giant Amazon. The national gaming retailer said at the time that its approximately 1,600 U.S. stores could become drop-off and shipping locations.
The e-commerce platform called the offer “neither credible nor attractive” after a rollout by GameStop CEO Ryan Cohen appeared to fizzle.
EBay has rejected a takeover bid from GameStop, describing the much smaller retail company’s proposal as “neither credible nor attractive”.
eBay stock was slightly lower after its board rejected a $56 billion takeover offer from GameStop CEO Ryan Cohen.
Online marketplace eBay has rejected an offer from GameStop to buy the company for $55.5 billion, dealing a blow to the video game retailer’s ambitions to create a rival to Amazon.
GameStop stock drops after eBay rejects the retailer's takeover bid.
GameStop stock drops after eBay rejects the retailer's takeover bid.
The e-commerce platform called the offer “neither credible nor attractive” after a rollout by GameStop CEO Ryan Cohen appeared to fizzle.