Home
News
Details

eBay Rejects GameStop's $5.6 Billion Takeover Bid

iconKuCoinFlash
Share
Share IconShare IconShare IconShare IconShare IconShare IconCopy
AI summary iconSummary

expand icon
eBay has rejected GameStop’s $5.6 billion takeover bid, calling the offer “uncredible and unattractive.” The proposal, announced on May 4, valued eBay at $125 per share. GameStop, which holds approximately 5% of eBay’s shares, said it may pursue the deal through a proxy contest. This development adds a new dimension to on-chain and crypto news, as major retail and digital asset players continue to intersect. CEO Ryan Cohen stated that shareholders will be directly contacted if the bid is rejected.

Odaily Planet Daily reports that, according to market sources, eBay has rejected GameStop’s approximately $56 billion acquisition offer, calling the proposal “neither credible nor attractive.”

Previously, GameStop proposed on May 4 to acquire eBay through a cash-and-stock offer of $125 per share. GameStop CEO Ryan Cohen stated that the company currently holds approximately 5% of eBay’s shares and, if eBay rejects the acquisition proposal, it will consider launching a proxy contest to directly present the proposal to shareholders.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.