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 reliable nor attractive,” EBay’s committee said successful a statement. The San José institution said it rejected nan bid aft considering various factors, including really it could effect maturation and profitability.

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

The rejection sets backmost video crippled retailer GameStop’s bold ecommerce ambitions to return connected bigger rivals specified arsenic Amazon. Cohen told news outlets that he planned to turn EBay, noting that nan company, for illustration GameStop, besides focuses connected trading collectibles specified arsenic trading cards.

Analysts expressed skepticism astir nan offer, including really GameStop would salary for nan 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 rate and stock. The connection represented a 46% premium to EBay’s closing value connected Feb. 4, according to a news merchandise from nan company. GameStop besides started buying EBay shares and has a 5% liking successful nan company.

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

Questions still swirled astir whether GameStop could spend to bargain eBay and compete pinch Amazon.

In an interview pinch CNBC, Cohen said nan institution was offering “half cash” and “half stock” erstwhile pressed for much specifications astir really GameStop would finance nan takeover bid.

“We person nan expertise to rumor banal successful bid to get nan woody done, but nan afloat specifications of nan connection connected our connected our website,” he said successful nan interview.

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

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

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

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