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EBay rejects GameStop’s $56bn bid as ‘neither credible nor attractive’

Al Jazeera·Al Jazeera·20 days ago
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GameStop CEO Cohen, who has built a 5 percent position in eBay, has hinted he may take offer directly to eBay shareholders. EBay has rejected a $56bn takeover bid from the much smaller GameStop over financing doubts, calling the proposal “neither credible nor attractive”. EBay, which has roughly four times GameStop’s market value, also underscored on Tuesday that its turnaround efforts under CEO Jamie Iannone have boosted growth, with its stock returning 201 percent since Iannone took the position six years ago. Recommended Stories list of 4 items list 1 of 4 Africa’s richest man plans new Mombasa oil refinery: Why this matters list 2 of 4 Why the hantavirus outbreak is different from COVID-19 list 3 of 4 ‘Never give up’: Meet Curacao, the smallest country at a FIFA World Cup list 4 of 4 Pentagon gives new $29bn Iran war price tag, downplays munitions concerns end of list “We have concluded that your proposal is neither credible nor attractive,” eBay Chairman Paul Pressler said in a statement.…

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