The online marketplace called the cash-and-stock proposal “neither credible nor attractive.”
The online marketplace eBay on Tuesday rejected a proposal by GameStop to combine the two companies in a cash-and-stock deal worth about $55 billion, calling it “neither credible nor attractive.”
GameStop announced its proposal last week to combine with eBay, a company nearly four times its size. The offer has confounded much of Wall Street, in part over questions about how the company would afford it. GameStop’s chief executive, Ryan Cohen, initially declined to elaborate on how he would finance the deal and much of Wall Street remains skeptical about the mechanics of a deal.
Lauren Hirsch | The New York Times