EBay Rejects GameStop’s Aggressive $55 Billion Acquisition Bid

eBay has announced it is rejecting GameStop’s proposed cash-and-stock bid, valued at about $55 billion USD (roughly $75.3 billion CAD). In a response, eBay called the aggressive takeover “neither credible nor attractive.”

Earlier, video game retailer GameStop proposed to eBay that it be folded under GameStop’s umbrella. At the time, the deal was valued at $125 per share. GameStop’s chief executive, Ryan Cohen, paired the bid with a letter to eBay, in which he expressed plans to achieve $2 billion in cost savings at the company within a year of the deal’s closure.

According to The New York Times, eBay thoroughly reviews the offer with its legal and financial advisers. In a response letter to GameStop, eBay’s chairman, Paul Pressler, raised concerns over the bid. It’s said that Pressler spoke about uncertainty regarding how the deal would be paid for and the debt it would add to the company. GameStop felt bullish about its bid. The company said it was “highly confident” it would raise $20 billion to fund TD Bank’s aggressive offer.

Cohen believed that GameStop could increase eBay’s profitability by replicating GameStop’s cost-cutting efforts. By leveraging around 2,325 stores in the US (as of 2025), Cohen believed it could help eBay rival Amazon. However, Pressler believes eBay is doing that on its own. In his reported letter, Pressler noted that eBay shares are up about 55 percent over the past year. In contrast, GameStop’s shares are down roughly 16 percent.

Both companies largely deal with collectibles, trading cards, and other hobbyist items. For a while, GameStop has struggled with its identity as physical game sales have declined. In 2023, the company shuttered its short-lived crypto business and NFT. Many of its stores are now locations to pick up graphic t-shirts, cards and Funko POPs.