eBay rejects GameStop’s takeover bid and says their offer is not “credible”

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So, GameStop tried to buy eBay – like, all of eBay – with a $56 billion offer, but eBay basically laughed it off. They said the offer wasn’t serious and wasn’t something they’d even consider. Pretty wild, right?

Okay, so Ryan Cohen, the guy running GameStop, just made a bid for eBay, and honestly, it’s a huge reach. GameStop’s currently worth about $12 billion, but eBay is valued at almost $48 billion – it’s a massive difference! Everyone’s talking about how big the gap is between the two companies.

According to Reuters, eBay’s chairman, Paul Pressler, stated the company won’t be pursuing the proposal and is happy with its current strategy.

“We have concluded that your proposal is neither credible nor attractive,” Pressler said.

eBay has turned down GameStop’s offer to buy the company for $56 billion, stating the offer wasn’t serious or appealing.

— TopMob (@TopMob) May 12, 2026

The purchase would have been paid for with both cash and company stock, but experts doubted GameStop’s ability to fund such a large deal.

Concerns increased after Ryan Cohen spoke about the offer on CNBC. When asked specifically how GameStop would finance the acquisition, he allegedly only stated they would use “cash and stock,” offering no additional details.

Ryan Cohen wanted to rival Amazon

Cohen suggested that merging GameStop and eBay could challenge Amazon’s dominance. He proposed leveraging GameStop’s 600 stores across the US as a physical presence to bolster eBay’s online marketplace.

He also stated he could make eBay more profitable by using similar, strong cost-cutting methods that GameStop has implemented recently.

As a GameStop investor, I’m seeing a lot of disagreement about this new proposal. It’s pretty concerning to hear that Michael Burry – the guy who predicted the 2008 crash and was in ‘The Big Short’ – actually sold all his shares when this offer came up. He’s worried it could leave GameStop with a lot of debt and reduce the value of what we, as shareholders, own.

Reuters says Cohen might still try to buy eBay directly from its shareholders, even if his initial offer is rejected, by calling a special meeting to vote on the deal.

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2026-05-12 14:19