Online retailing giant eBay has turned down GameStop CEO Ryan Cohen’s unsolicited $56 billion takeover proposal, calling it “neither credible nor attractive.” On May 3, GameStop submitted a nonbinding offer to acquire of eBay for $125/share (supposedly comprising 50% cash and 50% GameStop common stock), valuing eBay at $55.5 billion. But questions immediately arose about how GameStop could swing the deal, even with a $20 billion debt financing commitment from TD Securities. On Tuesday (May 12), eBay announced that “following a thorough review,” its board of directors determined to reject GameStop’s proposal. Popular on Variety “We have concluded that your proposal is neither credible nor attractive,” eBay chairman Paul Pressler said in a letter addressed to Cohen, included in its press release.…