Ebay Rejects GameStop’s ‘Neither Credible Nor Attractive’ $56 Billion Takeover Bid

BreakingBusinessEbay Rejects GameStop’s ‘Neither Credible Nor Attractive’ $56 Billion Takeover BidBySiladitya Ray,Forbes Staff. Siladitya Ray is a New Delhi-based Forbes news team reporter.Follow AuthorMay 12, 2026, 09:06am EDTMay 12, 2026, 09:07am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineEbay on Tuesday rejected Gamestop’s $56 billion bid to takeover the company, questioning the financial viability of the deal, weeks after the video game retailer and popular memestock made an unsolicited bid to take over the online marketplace with a four-times larger market cap.Ebay rejected GameStop's unsolicited $56 billion bid.Getty ImagesKey FactsIn a press release, eBay shared a letter it sent to GameStop CEO and billionaire Ryan Cohen noting that its board had reviewed the deal and rejected it.The board concluded that the proposal put forth by Cohen’s company was “neither credible nor attractive,” the letter said.It then highlights potential issues with the deal including “uncertainty” around the “financing proposal” and the “leverage, operational risks, and leadership structure” of the combined entity.Cohen had previously suggested that GameStop may issue more stock to help fund a part of its half-cash, half-stock bid to take over eBay and TD Bank would provide up to $20 billion in debt financing. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defer', '1'); script.setAttribute('type', 'text/javascript'); iframeDoc.body.appendChild(script); }; document.head.appendChild(iframe); const preloadResourcesEndpoint = 'https://cds.elements.video/a/preload-resources-ovp.js...