eBay has rejected GameStop’s takeover bid and says offer not “credible”
· My Nintendo NewsReuters is reporting that the huge online marketplace eBay has said its turned down GameStop’s takeover bid saying that it is ‘neither credible nor attractive.’ As I’m sure you aware, GameStop offered a $56 billion takeover bid for the online marketplace last week. eBay said “We have concluded that [GameStop’s] proposal is neither credible nor attractive.” eBay chairman Paul Pressler went on to say that “eBay’s Board is confident the company, under its current management team, is well-positioned to continue to drive sustainable growth.”
“Analysts and investors have doubted whether the half-cash, half-stock bid from the $12 billion videogame retailer for a company nearly four times its market value would close.”