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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

eBay Rejects GameStop's 'Audacious' $56 Billion Bid — Days After Michael Burry's 'Capitalist Hell' Warning

GameStop Michael Burry eBay Ryan Cohen United States Jamie Iannone Amazon
eBay has rejected GameStop's $55.5 billion takeover bid. (Credit: GameStop on X)

eBay rejected GameStop's $55.5 billion takeover bid, stating the offer was 'not attractive or credible' amid doubts over financing. Note that eBay's market cap is nearly four times that of GameStop. eBay highlighted that under CEO Jamie Iannone's leadership, the company has ramped up growth, with the stock up 200% since Iannone took over six years ago.

'eBay's Board is confident the company, under its current management team, is well-positioned to continue to drive sustainable growth,' said eBay Chairman Paul Pressler on GameStop's proposal.

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