eBay has formally rejected an unsolicited $55.5 billion takeover offer from Grapevine-based GameStop Corp., dealing a significant setback to the North Texas video game retailer’s ambitious plans.
The e-commerce company announced Tuesday that its board of directors unanimously turned down the proposal after a thorough review with financial and legal advisors. In a letter to GameStop CEO Ryan Cohen, eBay Chairman Paul Pressler stated the bid was “neither credible nor attractive,” citing concerns over financing uncertainty, operational risks, leverage and GameStop’s governance structure.
GameStop, headquartered at 625 Westport Parkway in Grapevine, made the surprise non-binding offer on May 3. The proposed deal valued eBay at $125 per share — half in cash and half in GameStop stock — representing a substantial premium to the company’s recent trading price.
EBay rejects GameStop's $56 billion takeover bid, calling it 'neither credible nor attractive' https://t.co/vjS2yNeo5d
— CNBC (@CNBC) May 12, 2026
The Grapevine company had framed the potential acquisition as an opportunity to create a formidable competitor to Amazon by merging eBay’s vast online marketplace with GameStop’s physical stores and loyal customer base.
With roughly $9.4 billion in cash and liquid investments as of early 2026, GameStop had lined up third-party financing commitments to support the cash portion of the deal.
The rejection comes as GameStop continues to evolve beyond its traditional brick-and-mortar roots. The move had drawn significant attention in the business world given the large size difference between the two companies.
eBay, based in San Jose, California, said it remains confident that its current management team and standalone strategy position the company well for sustainable long-term growth.
