GameStop’s unsolicited bid faces skepticism as eBay dismisses the proposal and questions arise over funding sources.
EBay’s board unanimously rejected GameStop’s $56 billion takeover bid, labeling it “neither credible nor attractive.” The decision raises doubts about the feasibility of the offer, which would require significant financing.
GameStop’s bid, announced earlier this week, lacked detailed funding plans. Analysts had questioned the company’s ability to secure the necessary capital, given its current market valuation and liquidity constraints.
Speculation is growing over whether GameStop CEO Ryan Cohen will liquidate the company’s $368 million bitcoin holdings to bolster the bid’s credibility. No immediate market reaction was reported.