EBay on Tuesday rejected an ambitious $56 billion takeover bid from the much smaller GameStop on doubts over the financing of the deal, while underscoring its turnaround efforts that have boosted growth. EBay stock has been trading far below the offer price of $125 per share since the bid was made earlier this month. It fell 1% to $107 before the bell, while GameStop was down 4%.
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eBay suspended Ryan Cohen's account two days after GameStop's $56 billion takeover bid. The ban has since been lifted.
GameStop is looking to acquire a much larger company than itself.