eBay rejects GameStop’s $56 billion takeover offer

“We considered factors such as 1) eBay’s standalone prospects, 2) the uncertainty of your financing proposal, 3) the impact of your proposal on eBay’s long-term growth and profitability, 4) the leverage, operational risks and leadership structure of a combined entity, 5) the implications of these factors on the valuation, and 6) GameStop’s governance and executive incentives.

eBay is a strong, resilient company that has achieved meaningful results over the past several years. We have enhanced our strategic focus, enhanced execution, enhanced the marketplace and vendor experience, and consistently returned capital to shareholders. With its differentiated global market and clear strategy, eBay’s Board of Directors is confident that the company, under its current management team, is well positioned to continue driving sustainable growth, executing with discipline, and delivering long-term value for our shareholders.