eBay rejects GameStop's $56B unsolicited offer as "neither credible nor attractive"
Serving tech enthusiasts for over 25 years.
TechSpot means tech analysis and advice you can trust.
What just happened? eBay has rejected GameStop's $56 billion acquisition offer, and the company wasn't shy in detailing exactly why it decided to pass. In a strongly worded response sent to GameStop CEO Ryan Cohen, eBay's Board Chairman Paul S. Pressler said the offer was "neither credible nor attractive."
In the letter, which was also shared online, the executive said the board and its independent advisors thoroughly reviewed GameStop's proposal before making a decision.
Pressler said the review committee took into account numerous factors including eBay's standalone prospects, the uncertainty surrounding GameStop's financial proposal, the impact the deal would have on eBay's long-term growth and profitability, the operational risks and leadership structure of the combined entity, the implications of the deal on valuation, and GameStop's executive and governance incentives.
eBay isn't the...
Copyright of this story solely belongs to techspot.com. To see the full text click HERE
