eBay rejected on Tuesday a $56 billion acquisition offer from GameStop, saying it is "neither credible nor attractive."
Paul Pressler, the company's chairman of the board, signed a letter from the body saying the rejection took into account "such factors as 1) eBay's standalone prospects, 2) the uncertainty regarding 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 resulting implications of these factors on valuation, and 6) GameStop's governance and executive incentives."
