GameStop’s $55.5bn bid for eBay rejected as ‘neither credible nor attractive’

The board of eBay has rejected the US video games retailer GameStop’s surprise $55.5bn bid (£41bn) for the online marketplace, describing the proposal as “neither credible nor attractive”. Earlier this month, GameStop made an unsolicited bid for eBay, publishing a letter on its website outlining a half-cash, half-stock proposal. This was despite the US games company – which became a global household name during the meme stock craze of 2021 – being worth far less than its takeover target. …