GameStop CEO Ryan Cohen reiterated a hostile bid for eBay after the marketplace rejected his $125-per-share cash‑and‑stock offer.
Cohen has built a 5% stake in eBay and plans to present the proposal directly to shareholders despite board’s refusal.
The offer, valued at over four times GameStop’s $10.3 bn market cap, was dismissed by eBay citing financing, debt and governance concerns.
Cohen criticized eBay’s governance, noting CEO Jamie Iannone earned $144 million over six years and its active buyer base has fallen.