eBay has rejected GameStop's $55 billion acquisition proposal. The online marketplace's board concluded that the offer was not credible or attractive. GameStop has not responded to the denial as of publishing.
Board cites lack of credibility
eBay Chairman Paul S. Pressler stated that the company's board found the proposal neither credible nor attractive. He emphasized that eBay is a strong, resilient business that has delivered meaningful results over the past several years. Pressler also expressed confidence in eBay's current management team and strategy to drive sustainable growth and long-term value for shareholders.
It remains unclear whether GameStop will make a second offer for eBay. The company's initial bid appears to have been a one-off attempt, but future moves have not been ruled out.
The story was originally reported by Insider Gaming.
