{"id":137149,"date":"2026-05-12T13:00:00","date_gmt":"2026-05-12T13:00:00","guid":{"rendered":"https:\/\/www.nintendolife.com\/#article-201085"},"modified":"2026-05-12T13:00:00","modified_gmt":"2026-05-12T13:00:00","slug":"your-proposal-is-neither-credible-nor-attractive-ebay-rejects-gamestops-takeover-bid","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2026\/05\/12\/your-proposal-is-neither-credible-nor-attractive-ebay-rejects-gamestops-takeover-bid\/","title":{"rendered":"“Your Proposal Is Neither Credible Nor Attractive” – eBay Rejects GameStop’s Takeover Bid"},"content":{"rendered":"
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\"GameStop<\/a>
<\/span> Image: Nintendo Life<\/em><\/figcaption><\/figure>\n

When we recently reported<\/a> on GameStop’s bid to acquire eBay for a cool $55.5 billion, many of you were understandably sceptical. How could such an offer be made when GameStop’s own value is significantly lower than eBay’s?<\/p>\n

Well, it turns out that eBay itself isn’t too keen on the idea either. In a letter to GameStop’s CEO Ryan Cohen, Paul S. Pressler, chairman of the board of directors at eBay, outright rejected the takeover bid as “neither credible nor attractive” (thanks, IGN<\/a>).<\/p>\n

Here’s the letter in full:<\/p>\n

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Dear Mr. Cohen,<\/p>\n

The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it.<\/p>\n

We have concluded that your proposal is neither credible nor attractive. We have taken into account such factors as 1) eBay’s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay’s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop’s governance and executive incentives.<\/p>\n

eBay is a strong, resilient business that has delivered meaningful results over the past several years. We have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, and consistently returned capital to shareholders. With its differentiated global marketplace and a clear strategy, eBay’s Board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders.<\/p>\n

Our team remains focused on executing our strategy and driving our business forward in the best interests of the company, our shareholders, our employees, and millions of buyers and sellers around the world.<\/p>\n

Sincerely,<\/p>\n

\/s\/ Paul S. Pressler<\/p>\n

Paul S. Pressler
Chairman of the Board of Directors, eBay<\/p>\n<\/blockquote>\n

Ryan Cohen is unlikely to go down without a fight, mind you, since he previously indicated his intention to go straight to the shareholders in the event his bid is rejected. Cohen’s reasoning behind the bid was simple: he wants to turn eBay into a more significantly competitor to the eCommerce juggernaut Amazon.<\/p>\n

At this rate though, it sounds like he may want to come up with a ‘plan B’. Indeed, Cohen was so adamant about his intention to buy eBay, he even launched a publicity stunt<\/a> in which he sold items like baseball caps and socks on the site in an effort to ‘raise funds’. He listed items at such ridiculous values that it eventually led to him being suspended altogether.<\/p>\n

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