eBay rejects $55.5bn offer from GameStop

eBay has rejected an unsolicited $55.5 billion takeover bid from video game retailer GameStop, calling the offer 'neither credible nor attractive' [1]. In a letter to GameStop CEO Ryan Cohen, eBay's board stated the online auction giant was a 'strong, resilient business' and cited concerns over the proposal's impact on long-term growth, operational risks, and GameStop's governance [1]. Analysts had anticipated the rejection, noting GameStop is worth about a quarter of eBay's size [1]. The smaller retailer, which has around 1,600 stores globally, had claimed a commitment for $20 billion in debt financing from TD Securities [1]. Despite a fall in sales, eBay's net profit for 2025 rose to $418.4 million, up from $131.3 million the previous year [1]. GameStop, a prominent 'meme stock,' can still take its proposal directly to eBay shareholders, a move Cohen suggested last week [1]. He has argued eBay could rival Amazon under his leadership, but analysts have questioned the deal's merits, noting it would burden eBay with significant debt [1].