eBay has turned down a $56 billion acquisition proposal from GameStop, according to market sources. The offer was deemed "neither credible nor attractive" by eBay.
According to Odaily, GameStop had proposed on May 4 to acquire eBay through a combination of cash and stock, offering $125 per share. GameStop CEO Ryan Cohen stated that the company already holds approximately 5% of eBay's shares. He also mentioned that if eBay rejects the acquisition proposal, GameStop might consider launching a proxy battle and directly presenting the proposal to eBay's shareholders.