{"id":216,"date":"2026-05-12T18:05:19","date_gmt":"2026-05-12T18:05:19","guid":{"rendered":"https:\/\/arizonamovinginsider.com\/?p=216"},"modified":"2026-05-12T18:05:19","modified_gmt":"2026-05-12T18:05:19","slug":"ebay-rejects-gamestops-56-billion-offer-calling-it-neither-credible-nor-attractive","status":"publish","type":"post","link":"https:\/\/arizonamovinginsider.com\/?p=216","title":{"rendered":"eBay rejects GameStop\u2019s $56 billion offer, calling it \u2018neither credible nor attractive\u2019"},"content":{"rendered":"
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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\u2019s ambitions to create a rival to Amazon.<\/p>\n

Read more Sip Fresh chain plots AZ growth after doubling footprint in 2025<\/a><\/p>\n

After reviewing GameStop\u2019s proposition, the eBay board had concluded that the proposal was \u201cneither credible nor attractive,\u201d eBay board chairman Paul Pressler wrote in a letter to GameStop CEO Ryan Cohen Tuesday. In the letter, which was shared with CNN, Pressler said the board had taken the decision after considering eBay\u2019s \u201cstandalone prospects,\u201d the \u201cuncertainty\u201d regarding how the deal would be funded and GameStop\u2019s \u201cgovernance and executive incentives,\u201d among other factors.<\/p>\n

CNN has reached out to GameStop for comment. The company\u2019s shares fell 4.5% in premarket trading.<\/p>\n

IN CASE YOU MISSED IT | <\/b>Shares of eBay take off on a $56 billion buyout bid from GameStop’s Ryan Cohen<\/b><\/p>\n

GameStop\u2019s ambitious bid for a company nearly four times its size had already raised several eyebrows, particularly as details on how Cohen planned to pay for the offer remained vague and he seemed to skirt the issue in an interview with CNBC.<\/p>\n

In a bizarre twist, it then emerged that Cohen was selling goods on eBay \u2013 to fund the purchase of eBay. Among the merchandise on offer: a GameStop cap for $4,950 and a similarly branded mug going for $3,151.<\/p>\n

Read more Pima County Sheriff Chris Nanos vows Nancy Guthrie case will not go cold<\/a><\/p>\n

GameStop\u2019s outlandish proposal comes amid something of a revival at eBay, which has pushed to reinvent itself in the face of rising competition from the likes of Walmart, Amazon, Shein and Facebook Marketplace. The company\u2019s share price has gained 24% this year.<\/p>\n

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Pressler said that eBay, under its current management team, was \u201cwell-positioned to continue to drive sustainable growth\u2026 and deliver long-term value for our shareholders.\u201d<\/p>\n

\u201ceBay is a strong, resilient business that has delivered meaningful results over the past several years,\u201d he noted. \u201cWe have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, and consistently returned capital to shareholders.\u201d<\/p>\n

The-CNN-Wire\u2122 & \u00a9 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.<\/i><\/p>\n

Read more MOST ACCURATE FORECAST: Extreme Heat Warning through Tuesday in the Valley<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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\u2019s ambitions to create a rival to Amazon.<\/p>\n","protected":false},"author":1,"featured_media":215,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news"],"yoast_head":"\neBay rejects GameStop\u2019s $56 billion offer, calling it \u2018neither credible nor attractive\u2019 - Arizona Moving Insider<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arizonamovinginsider.com\/?p=216\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"eBay rejects GameStop\u2019s $56 billion offer, calling it \u2018neither credible nor attractive\u2019 - 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