Ebay today officially rejected GameStop's $56 billion takeover offer. Ebay said the offer made by GameStop was unattractive and unreliable.
One of the reasons given was that GameStop's market value was much lower, while eBay had a market value of 4 times that. Ebay said they were confident in their company under the current management to continue driving it forward.
Previously, last week, GameStop unexpectedly made a takeover offer for Ebay, where by combining the two companies, it was targeted to form a larger e-commerce company and challenge other companies in the e-commerce arena.
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BUSINESS & MONEY
