eBay Rejects GameStop’s $56 Billion Bid as ‘Neither Credible Nor Attractive’
BeInCrypto
eBay has rejected an unsolicited $56 billion takeover bid from GameStop, citing concerns over financing and limited operational synergy.Summary
eBay's board of directors has formally rejected a $56 billion acquisition offer from GameStop, led by CEO Ryan Cohen. The board labeled the offer “neither credible nor attractive,” expressing significant concerns regarding the financing of the deal and the potential operational risks associated with merging two businesses with little overlap. Despite the rejection, Cohen may pursue a hostile takeover by taking the $125-per-share bid directly to shareholders. This move marks a strategic shift for GameStop, which may liquidate its significant Bitcoin treasury to fund the potential transaction.
(Source：BeInCrypto)