eBay has formally rejected an unsolicited acquisition proposal from GameStop, with the company’s board stating that the offer was neither “credible nor attractive” following a review conducted alongside its financial and legal advisors.
The announcement was made through a public response letter addressed to GameStop CEO Ryan Cohen, in which eBay outlined several concerns behind the decision. According to the company, the board considered factors including uncertainty surrounding the proposed financing structure, operational and leadership risks tied to a combined entity, and the potential impact on eBay’s long-term growth and profitability.
eBay also pointed to confidence in its current business strategy as a major reason for rejecting the proposal. The company stated that it believes its existing management team and marketplace strategy position it well for sustainable future growth. In its response, eBay highlighted recent efforts to improve execution, strengthen seller and buyer experiences, and return value to shareholders.
The statement did not disclose financial terms associated with GameStop’s proposal, though the board specifically referenced concerns about leverage, governance, and executive incentive structures related to the potential merger.
Founded in 1995, eBay remains one of the largest online marketplaces globally, operating across more than 190 markets. The company noted that it facilitated nearly $80 billion in gross merchandise volume during 2025.
The rejection marks a significant setback for any potential acquisition discussions between the two companies, with eBay making clear that it intends to continue pursuing its standalone strategy under its current leadership structure.
