EBay Inc. rejected an unsolicited $56 billion takeover bid from GameStop Corp. EBay Chairman Paul Pressler formally declined the offer in a letter on Tuesday, May 12, 2026.
GameStop CEO Ryan Cohen proposed the cash-and-stock deal in early May. The bid aimed to challenge Amazon by leveraging GameStop’s physical retail footprint.
EBay’s board of directors unanimously rejected the proposal after consulting financial and legal advisors. The board questioned the credibility of GameStop’s financing for the deal. Directors also cited significant operational risks involved in the potential merger.