WHAT HAPPENED
5 billion takeover bid ran into significant resistance from the e-commerce giant’s board. Bloomberg reported, citing unnamed sources, that the video game retailer is now considering alternatives to the outright acquisition it proposed earlier this year. CEO Ryan Cohen led the charge on an unsolicited, non-binding offer made in May to acquire eBay in a cash-and-stock deal valued at $55. eBay’s board moved swiftly to reject the proposal that same month, dismissing it as “neither credible nor attractive” in a pointed rebuff of Cohen’s overtures. One option now under examination would see GameStop and eBay collaborate to expand market share in higher-margin product categories, including trading cards and collectibles.
Continue reading from the original publisher for the complete report and source context.
READ ORIGINAL STORY