EBay rejects GameStop's $56-billion takeover offer

California online marketplace EBay said Tuesday its committee rejected GameStop’s unsolicited $56-billion takeover offer.

The connection was “neither credible nor attractive,” EBay’s committee said successful a statement. The San José institution said it rejected the bid aft considering assorted factors, including however it could interaction maturation and profitability.

“With its differentiated planetary marketplace and a wide strategy, EBay’s Board is assured that the company, nether its existent absorption team, is well-positioned to proceed to thrust sustainable growth, execute with discipline, and present semipermanent worth for our shareholders,” the board’s missive to GameStop’s Chief Executive Ryan Cohen said.

The rejection sets backmost video crippled retailer GameStop’s bold ecommerce ambitions to instrumentality connected bigger rivals specified arsenic Amazon. Cohen told quality outlets that helium planned to turn EBay, noting that the company, similar GameStop, besides focuses connected selling collectibles specified arsenic trading cards.

Analysts expressed skepticism astir the offer, including however GameStop would wage for the takeover. As of Tuesday, GameStop, headquartered successful Texas, has a marketplace headdress of $10 billion. That’s overmuch little than EBay’s $48-billion marketplace cap.

GameStop didn’t instantly respond to a petition for comment.

Earlier this month, GameStop announced it offered to get EBay for $125.00 per stock successful currency and stock. The connection represented a 46% premium to EBay’s closing terms connected Feb. 4, according to a quality merchandise from the company. GameStop besides started buying EBay shares and has a 5% involvement successful the company.

A missive from concern slope TD Securities to GameStop said that it was “highly confident” that the institution would rise up to $20 cardinal to money the deal.

Questions inactive swirled astir whether GameStop could spend to bargain eBay and vie with Amazon.

In an interrogation with CNBC, Cohen said the institution was offering “half cash” and “half stock” erstwhile pressed for much details astir however GameStop would concern the takeover bid.

“We person the quality to contented banal successful bid to get the woody done, but the afloat details of the connection connected our connected our website,” helium said successful the interview.

Cohen told the Wall Street Journal that the institution planned to instrumentality the connection straight to shareholders if EBay wasn’t unfastened to the proposal.

GameStop has besides been grappling with the emergence of online shopping. The institution has closed astir 470 stores nationwide successful January, according to an unofficial blog tracking GameStop’s store closures. The company’s gross for fiscal twelvemonth 2025 totaled $3.63 billion, down astir 5% compared to the 2024 fiscal year. As GameStop slashed costs, its nett income grew to $418.4 million.

EBay has besides been trying to chopped backmost portion adapting to changes successful the ways radical shop. The institution said it plans to get manner marketplace Depop from Etsy for $1.2 cardinal successful currency to scope young consumers. In February, EBay announced it would laic disconnected 6% of its workforce, astir 800 jobs.

On Tuesday, EBay’s stock terms roseate 2% to astir $110. GameStop’s banal fell much than 3% to astir $22 per share.