India, May 12 -- Global commerce major eBay Inc. (EBAY) Tuesday announced that its Board of Directors has determined to reject GameStop's unsolicited, non-binding acquisition proposal.
On May 3, GameStop has revealed its proposal to acquire eBay for $125 per share in 50 percent cash and 50 percent GemeStop common stock. The offer represented a 46% premium to eBay's unaffected closing price on February 4, 2026.
In a response letter to GameStop CEO Ryan Cohen, eBay's Chairman Paul Pressler said the Board, with the support of its independent advisors, has thoroughly reviewed the proposal and has determined to reject it.
eBay further said the proposal is neither credible nor attractive. The company has considered its standalone prospects, th...