eBay's board of directors has firmly rejected a $56 billion takeover offer from GameStop CEO Ryan Cohen, describing the proposal as neither credible nor attractive.
The rejection came in a letter sent on Tuesday, May 12, signed by eBay chairman Paul S. Pressler. The board cited multiple concerns, including uncertainty over the financial proposal, risks from leverage and leadership structure, and the potential impact on eBay's long-term growth and profitability. It also noted GameStop's governance and executive incentives as factors in the decision.
