According to the source, eBay's board of directors, led by Paul Pressler, officially refused to discuss the offer. In a letter to GameStop CEO Ryan Cohen, company representatives stated that they did not believe the chain could finance such a large deal.
eBay also believes that such a merger carries excessively high operational risks and could harm business stability. The platform's management emphasized that the company remains profitable and has no intention of associating itself with a "chaotic" corporation that is inferior to it in market position.
At the same time, GameStop claims that the proposed amount included a 46% premium to eBay's market value at the beginning of February. It is also reported that the company has already secretly accumulated about 5% of eBay's shares.
According to the source, Ryan Cohen allegedly threatened that if rejected, he would appeal directly to shareholders to try to force the sale of the company. Against this background, the network is already discussing the likelihood of a hostile takeover.
GameStop has not yet officially commented on eBay's rejection.