Menu

Wall Street Lunch: EBay Rejects GameStop Takeover Proposal
📰
0

Wall Street Lunch: EBay Rejects GameStop Takeover Proposal

Seeking Alpha·Wall Street Breakfast·20 days ago
#8baDiv0F
#source#chevron#alpha#year#core#revenue
Reading 0:00
15s threshold

JHVEPhoto/iStock Editorial via Getty Images Listen below or on the go on Apple Podcasts and Spotify Board call’s GME’s $56B takeover proposal neither attractive nor credible . (0:15) Energy prices push April core and headline CPI higher . (0:50) Quantum Computing reports nearly 9,000% revenue growth . (1:49) This is an abridged transcript of the podcast: Our top story so far, the bid has been rejected. The question now: does this move toward an auction? eBay ( EBAY ) turned down GameStop’s ( GME ) $56B takeover proposal, calling it “neither credible nor attractive.” In a letter to CEO Ryan Cohen, eBay’s board cited the company’s standalone prospects, uncertainty around GameStop’s financing, the leverage and operational risks of a combined entity, and concerns around governance and executive incentives. The board said it remains confident in eBay’s current management and long-term strategy. GameStop’s offer was valued at roughly $125 per share in cash and stock.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More