eBay has rejected GameStop’s offer to buy it for $56 billion, calling it “neither credible nor attractive”, Bloomberg is reporting. The offer came last week, when GameStop said it would pay $125 per eBay share. Intriguingly, GameStop’s market value is about $11 billion, while eBay’s is $45 billion, so this is definitely a case of a small fish wanting to eat a much bigger one.
The GameStop bid is half cash and half GameStop stock, and represents a 20% premium over eBay’s current stock price. GameStop will have to borrow $20 billion to finance the acquisition, but when asked its CEO couldn’t…
Source: GSMArena.com – Latest articles