The management of the eBay marketplace officially rejected GameStop’s offer to buy out its assets for $56 billion. The board of directors called the proposed terms of the deal questionable in terms of financing and strategic feasibility.
The management of the eBay marketplace officially rejected GameStop’s offer to buy out its assets for $56 billion. The board of directors called the proposed terms of the deal questionable in terms of financing and strategic feasibility.
This is reported by CNBC, citing the official response of eBay Chairman of the Board of Directors Paul Pressler.
Last week, GameStop CEO Ryan Cohen unveiled a bold plan to buy back eBay shares for $125 a share. The deal was to consist of a cash and stock swap. The situation seems extraordinary because of the significant difference in the companies' sizes: eBay’s market capitalization is currently more than $48 billion, while GameStop is valued at about $10.3 billion.
«The Board of Directors, with the support of its independent advisors, has carefully considered your proposal and has decided to reject it. We have concluded that your proposal is neither credible nor attractive,» Paul Pressler wrote in a letter to Cohen.
eBay has expressed serious reservations about GameStop’s ability to finance such a large-scale transaction. Despite Cohen’s statements about agreements with TD Securities for $20 billion and the presence of $9 billion in cash, the funding gap remains critical. Wall Street analysts are also skeptical about the synergy of the companies. Ryan Cohen himself did not provide clear details of the financing and said: «We have the option to issue shares to complete the deal. We’ll see what happens next.»
Cohen’s plan called for turning GameStop’s 1,600 U.S. retail stores into eBay-style authentication centers and live-commerce hubs. He also promised to drastically cut marketing and staffing costs for the marketplace, criticizing current CEO Jamie Iannone for the lack of user growth.
eBay, on the other hand, said it was confident in its strategy and was already delivering significant results. The company is continuing its reorganization, focusing on «core categories» — trading cards, luxury goods, and used goods — to compete successfully with Amazon.
eBay shares have risen 24% since the beginning of 2026. The marketplace’s previous major transformation began back in 2022, when the company focused on verifying the authenticity of sneakers and watches, which allowed it to attract a new audience of collectors.
