eBay Slams the Door on Gamestop’s $55 Billion Bid!

by Misty White and Vicky Stewart-Ferguson

Well… that escalated fast.

eBay has officially rejected GameStop’s massive $55.5B takeover offer, calling the proposal “neither credible nor attractive” according to the board’s letter to Ryan Cohen.

The board pointed to uncertainty around funding, concerns about GameStop’s governance, and confidence in eBay’s own “standalone prospects” as reasons for shutting it down. Meanwhile, GameStop stock dipped in premarket trading after the news broke.

But in one of the wildest twists of this saga, it recently came out that Cohen was selling merch on eBay itself, including a $4,950 GameStop cap—to supposedly help fund the deal!

eBay says it’s thriving under current leadership, with shares up 24% this year and a renewed strategic focus driving growth.

Our take? This takeover battle just went from bold to bonkers, and something tells us it’s not over.