EBay Board Rejects Unsolicited Proposal From GameStop

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(RTTNews) - Global commerce major eBay Inc. (EBAY) Tuesday announced that its Board of Directors has determined to reject GameStop's unsolicited, non-binding acquisition proposal.

On May 3, GameStop has revealed its proposal to acquire eBay for $125 per share in 50 percent cash and 50 percent GemeStop common stock. The offer represented a 46% premium to eBay's unaffected closing price on February 4, 2026.

In a response letter to GameStop CEO Ryan Cohen, eBay's Chairman Paul Pressler said the Board, with the support of its independent advisors, has thoroughly reviewed the proposal and has determined to reject it.

eBay further said the proposal is neither credible nor attractive. The company has considered its standalone prospects, the uncertainty regarding GameStop's financing proposal, and the impact of the proposal on eBay's long-term growth and profitability. Further, the leverage, operational risks, and leadership structure of a combined entity as well as the resulting implications of these factors on valuation, GameStop's governance and executive incentives also were assessed.

In the letter, eBay concluded that it is a strong, resilient business that has delivered meaningful results over the past several years. The company has strengthened its marketplace and seller experience, and consistently returned capital to shareholders.

eBay's Board expressed 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 to its shareholders.