EBay Rejects GameStop’s $56 Billion Takeover Bid: ‘Your Proposal Is Neither Credible nor Attractive’

May 12, 2026 5:50am PT EBay Rejects GameStop’s $56 Billion Takeover Bid: ‘Your Proposal Is Neither Credible nor Attractive’

By Todd Spangler

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Todd Spangler

NY Digital Editor

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Online retailing giant eBay has turned down GameStop CEO Ryan Cohen’s unsolicited $56 billion takeover proposal, calling it “neither credible nor attractive.”

On May 3, GameStop submitted a nonbinding offer to acquire of eBay for $125/share (supposedly comprising 50% cash and 50% GameStop common stock), valuing eBay at $55.5 billion. But questions immediately arose about how GameStop could swing the deal, even with a $20 billion debt financing commitment from TD Securities.

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