Story perspectives

eBay rejects GameStop’s $56 B offer over financing doubts

5/12/2026

Summary

eBay Rejects

On May 12 2026, eBay rejected GameStop’s $56 billion takeover bid at $125 per share.
Chairman Paul Pressler said the bid was not credible nor attractive because of financing doubts.
After the rejection, eBay fell 1 % while GameStop dropped nearly 2 %.
The proposal required a $20 billion TD Bank debt commitment contingent on a rating.
GameStop’s 5 % eBay stake lets Cohen take the bid to shareholders or call a special meeting.

Summary

eBay Acquires Depop

GameStop filed a proxy statement seeking approval for a CEO pay plan that links Ryan Cohen’s awards to market-cap and EBITDA milestones.
The retailer closed 590 stores in 2025, leaving 1,600 U.S. sites that could support eBay’s logistics.
eBay announced a $1.2 billion acquisition of Depop, a second-hand fashion app, to attract younger shoppers.
Analysts say the meme-stock surge that revived GameStop also created volatile shareholder expectations for any hostile bid.

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eBay Rejects

On May 12 2026, eBay rejected GameStop’s $56 billion takeover bid at $125 per share.
Chairman Paul Pressler said the bid was not credible nor attractive because of financing doubts.
After the rejection, eBay fell 1 % while GameStop dropped nearly 2 %.
The proposal required a $20 billion TD Bank debt commitment contingent on a rating.
GameStop’s 5 % eBay stake lets Cohen take the bid to shareholders or call a special meeting.

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