eBay Rejects GameStop’s $56B Takeover Bid Amid Financing and Strategic Concerns

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2026-05-13 03:11:02

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eBay's board unanimously rejected GameStop's unsolicited acquisition offer, citing concerns over financing, debt load, and strategic misalignment. The proposed half-cash, half-stock deal would have given GameStop CEO Ryan Cohen a 5% stake in the e-commerce giant.

Moody's Ratings warned the merger would burden eBay with $20B+ in additional debt, though maintained its Baa1 stable rating. eBay's $7.2B existing debt and 2.3x leverage ratio were key factors in the decision.

The board emphasized confidence in eBay's standalone strategy, stating its marketplace remains "well-positioned to deliver long-term shareholder value" without GameStop's volatile retail footprint.

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eBay Rejects GameStop’s $56B Bid as Market Skepticism Grows

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