{"id":1576881,"date":"2026-05-12T12:24:09","date_gmt":"2026-05-12T12:24:09","guid":{"rendered":"http:\/\/5mJbvpgzsL5qDuGYH4NWTT"},"modified":"2026-05-12T12:24:09","modified_gmt":"2026-05-12T12:24:09","slug":"ebay-shoots-down-neither-credible-nor-attractive-56-billion-gamestop-offer-from-ceo-who-says-im-not-going-away-im-a-pain-in-the-ass","status":"publish","type":"post","link":"https:\/\/arcader.org\/news\/ebay-shoots-down-neither-credible-nor-attractive-56-billion-gamestop-offer-from-ceo-who-says-im-not-going-away-im-a-pain-in-the-ass\/","title":{"rendered":"eBay shoots down &#8216;neither credible nor attractive&#8217; $56 billion GameStop offer from CEO who says &#8216;I&#8217;m not going away. I&#8217;m a pain in the ass&#8217;"},"content":{"rendered":"<article>\n<p>The <a href=\"https:\/\/www.pcgamer.com\/gaming-industry\/gamestop-ebay-saga-gets-weirder-ceo-says-he-was-suspended-from-ebay-for-selling-stuff-on-ebay-to-pay-for-ebay\/\">bizarre saga of GameStop&#8217;s $56 billion bid<\/a> to acquire eBay has come to, if not an ending, then at least a sudden break: the internet auction empire today rejected GameStop&#8217;s offer, declaring &#8220;We have concluded that your proposal is neither credible nor attractive&#8221; in a letter from eBay board chairman Paul Pressler.<\/p>\n<p>&#8220;The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it,&#8221; <a href=\"https:\/\/www.prnewswire.com\/news-releases\/ebay-rejects-unsolicited-proposal-from-gamestop-302769000.html\" target=\"_blank\">wrote eBay<\/a>. <\/p>\n<p>&#8220;We have taken into account such factors as 1) eBay&#8217;s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay&#8217;s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop&#8217;s governance and executive incentives&#8221;.<\/p>\n<p>In some fairness to GameStop CEO Ryan Cohen\u2014who has been touting the offer with characteristic swagger on all channels since <a href=\"https:\/\/www.pcgamer.com\/gaming-industry\/gamestop-confirms-usd56-billion-ebay-acquisition-bid-promises-usd2-billion-in-cuts-at-the-company-if-the-takeover-is-successful\/\">he first made it on May 3<\/a>\u2014the games retailer did turn over its first operating profit since 2018 last year. <\/p>\n<p>Nevertheless, the bid has never seemed like anything other than fantasy. GameStop is almost a quarter the size of eBay by market cap: it&#8217;s valued at $12 billion versus eBay&#8217;s $46 billion, and when pressed as to where the money would come from in televised interviews, <a href=\"https:\/\/www.pcgamer.com\/gaming-industry\/gamestop-ceo-baffles-cnbc-anchors-in-bizarre-interview\/\">Cohen was surreally schtum<\/a>. <\/p>\n<div style=\"min-height: 250px;\">\n<div class=\"kwizly-quiz kwizly-W2YRoe\"><\/div>\n<\/p><\/div>\n<p> <script src=\"https:\/\/kwizly.com\/embed\/W2YRoe.js\" async><\/script><\/p>\n<p>On paper, the terms of the deal were that Cohen would offer eBay shareholders $28 billion in cash with the aid of TD Bank, which would provide $20 billion of that number. GameStop would also have issued a billion new shares that would give eBay&#8217;s current shareholders a 70% stake in the proposed GameStop-eBay combo entity.<\/p>\n<p>All of which is now, at least for the moment, by the by, as eBay has shot down Cohen and his wild-eyed notions. &#8220;eBay is a strong, resilient business that has delivered meaningful results over the past several years. We have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, and consistently returned capital to shareholders,&#8221; continues the letter from eBay&#8217;s board.<\/p>\n<p>&#8220;With its differentiated global marketplace and a clear strategy, eBay&#8217;s Board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders.<\/p>\n<p>&#8220;Our team remains focused on executing our strategy and driving our business forward in the best interests of the company, our shareholders, our employees, and millions of buyers and sellers around the world.&#8221;<\/p>\n<p>For his part, Cohen told the <a href=\"https:\/\/www.ft.com\/content\/c0023a3e-08ec-44e8-80a6-f9abb343c52e?syn-25a6b1a6=1\" target=\"_blank\">Financial Times<\/a> that &#8220;The more [eBay] fights me, the more\u2026 I&#8217;m not going to take no for an answer. I&#8217;m not going away. I&#8217;m a pain in the ass.&#8221;<\/p>\n<div class=\"product\"><a data-dimension112=\"0d48b361-02fb-4798-8395-d05ce21796d3\" data-action=\"Deal Block\" data-label=\"2026 games\" data-dimension48=\"2026 games\" target=\"_blank\" rel=\"nofollow\"><\/p>\n<figure class=\"van-image-figure \" >\n<div class='image-full-width-wrapper'>\n<div class='image-widthsetter' style=\"max-width:661px;\">\n<p class=\"vanilla-image-block\" style=\"padding-top:98.94%;\"><img loading=\"lazy\" decoding=\"async\" id=\"6offQUY4CXebir2TC27dMd\" name=\"kingdom come 2 square\" caption=\"\" alt=\"\" src=\"https:\/\/arcader.org\/wp-content\/uploads\/2026\/05\/ebay-shoots-down-neither-credible-nor-attractive-56-billion-gamestop-offer-from-ceo-who-says-im-not-going-away-im-a-pain-in-the-ass.jpg\" mos=\"\" align=\"middle\" fullscreen=\"\" width=\"661\" height=\"654\" attribution=\"\" endorsement=\"\" credit=\"\" class=\"\"><\/p>\n<\/div>\n<\/div>\n<\/figure>\n<p><\/a><\/p>\n<p><a href=\"https:\/\/www.pcgamer.com\/games\/new-pc-games-2026\/\" target=\"_blank\" data-dimension112=\"0d48b361-02fb-4798-8395-d05ce21796d3\" data-action=\"Deal Block\" data-label=\"2026 games\" data-dimension48=\"2026 games\" data-dimension25=\"\"><strong>2026 games<\/strong><\/a>: All the upcoming games<br \/><a href=\"https:\/\/www.pcgamer.com\/the-best-pc-games\/\" target=\"_blank\"><strong>Best PC games<\/strong><\/a>: Our all-time favorites<br \/><a href=\"https:\/\/www.pcgamer.com\/the-50-best-free-pc-games\/\" target=\"_blank\"><strong>Free PC games<\/strong><\/a>: Freebie fest<br \/><a href=\"https:\/\/www.pcgamer.com\/best-fps-games\/\" target=\"_blank\"><strong>Best FPS games<\/strong><\/a>: Finest gunplay<br \/><a href=\"https:\/\/www.pcgamer.com\/best-rpgs-of-all-time\/\" target=\"_blank\"><strong>Best RPGs<\/strong><\/a>: Grand adventures<br \/><a href=\"https:\/\/www.pcgamer.com\/the-best-co-op-games\/\" target=\"_blank\"><strong>Best co-op games<\/strong><\/a>: Better together<\/p>\n<\/div>\n<\/article>\n<p><a href=\"https:\/\/www.pcgamer.com\/gaming-industry\/ebay-shoots-down-neither-credible-nor-attractive-usd56-billion-gamestop-offer-from-ceo-who-says-im-not-going-away-im-a-pain-in-the-ass\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bizarre saga of GameStop&#8217;s $56 billion bid to acquire eBay has come to, if not an ending, then at least a sudden break: the internet auction empire today rejected GameStop&#8217;s offer, declaring &#8220;We have concluded that your proposal is neither credible nor attractive&#8221; in a letter from eBay board chairman Paul Pressler. &#8220;The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it,&#8221; wrote eBay. &#8220;We have taken into account such factors as 1) eBay&#8217;s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay&#8217;s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors&hellip;<\/p>\n<p class=\"excerpt-more\"><a class=\"blog-excerpt button\" href=\"https:\/\/arcader.org\/news\/ebay-shoots-down-neither-credible-nor-attractive-56-billion-gamestop-offer-from-ceo-who-says-im-not-going-away-im-a-pain-in-the-ass\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":1576882,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[336],"tags":[5491],"class_list":["post-1576881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pc-gamer","tag-gaming-industry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>eBay shoots down &#039;neither credible nor attractive&#039; $56 billion GameStop offer from CEO who says &#039;I&#039;m not going away. I&#039;m a pain in the ass&#039; | Arcader News<\/title>\n<meta name=\"description\" content=\"The bizarre saga of GameStop&#039;s $56 billion bid to acquire eBay has come to, if not an ending, then at least a sudden break: the internet auction empire\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arcader.org\/news\/ebay-shoots-down-neither-credible-nor-attractive-56-billion-gamestop-offer-from-ceo-who-says-im-not-going-away-im-a-pain-in-the-ass\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"eBay shoots down &#039;neither credible nor attractive&#039; $56 billion GameStop offer from CEO who says &#039;I&#039;m not going away. 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