EBay board turns down GameStop’s half-cash, half-stock offer
Crypto Briefing
EBay's board rejected a takeover bid from GameStop CEO Ryan Cohen, citing concerns over the offer's credibility, valuation, and potential operational risks.Summary
The board of eBay has officially rejected a half-cash, half-stock acquisition proposal from GameStop CEO Ryan Cohen. In a letter to Cohen, eBay chairman Paul Pressler stated that the bid was neither credible nor attractive after an evaluation by independent advisors.
The board cited six primary reasons for the rejection, including eBay's strong standalone growth prospects, uncertainties regarding GameStop's financing, and concerns over operational risks and corporate governance. Pressler emphasized that the company remains focused on its existing strategy of returning value to shareholders, and following the announcement, GameStop shares saw continued downward pressure in pre-market trading.
(Source：Crypto Briefing)