economy
EBay rejects GameStop's $55.5 billion takeover bid, calling it "neither credible nor attractive"
EBay on Tuesday said it is rejecting GameStop's $55.5 billion takeover bid, calling the offer "neither credible nor attractive."
TL;DR
- EBay rejected GameStop's $55.5 billion takeover bid.
- EBay cited concerns about financing, leverage, and operational risks.
- GameStop offered $125 per share in cash and stock.
- GameStop currently owns a 5% stake in EBay.
- GameStop's market capitalization is significantly smaller than EBay's.