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Overview
- eBay’s board, which on Tuesday rejected GameStop’s unsolicited offer, dismissed the $125‑per‑share mix of cash and stock as not credible or attractive.
- Directors said they doubt GameStop can fund the deal and highlighted progress from eBay’s ongoing restructuring.
- GameStop CEO Ryan Cohen said he may take the proposal straight to eBay shareholders, a move that could trigger a hostile attempt or a fight to replace directors.
- GameStop has floated up to $20 billion in debt arranged with TD Securities alongside new stock issuance to cover the cash portion.
- Investor reaction signaled skepticism as eBay shares traded below the offer price, GameStop fell after the rejection, and Michael Burry said he had exited his GameStop stake.