Explore the latest developments concerning Ryan Cohen Wants.
EBay rejects GameStop's $56 billion takeover bid, calling it 'neither credible nor attractive'
EBay on Tuesday rejected GameStop's $56 billion takeover proposal, calling the unsolicited bid "neither credible nor attractive."
GameStop CEO Ryan Cohen last week unveiled an audacious bid for eBay, offering to acquire the online marketplace for $125 per share in a cash-and-stock deal. EBay is much larger than the video game retailer, with a market cap of just over $48 billion, while GameStop's is roughly $10.3 billion.
"The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it," Paul Pressler, the chairman of eBay's board, wrote in a letter. "We have concluded that your proposal is neither credible nor attractive."
Debunking GameStop CEO Ryan Cohen's bizarre eBay claims
GameStop (GME) CEO Ryan Cohen made an offer to buy eBay (EBAY), which was rejected.
Hennion & Walsh chief investment officer Kevin Mahn and Yahoo Finance Senior Reporter Brooke DiPalma chat with Yahoo Finance Executive Editor Brian Sozzi about eBay's stock and earnings performance, contrasting Cohen's claims.
Online marketplace eBay rejected the Florida dweller's $55 billion deal to buy the company. Company called the unsolicited offer neither credible nor attractive. Cohen has since taken to the airwaves to fire off a few pre-planned answers he thinks are super funny. That includes calling eBay's management a bunch of losers on Piers Morgan's show last night.
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