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Unsurprisingly, eBay does not want to be bought by GameStop, because of course it doesn't. From Matt Levine:

GameStop is really offering eBay shareholders nothing except Cohen. They would not be bought out at a premium; they would just get a leveraged recap (which eBay could do on its own if it wanted to, and probably more easily than GameStop could) and shares of their own company run in a somewhat zanier way. A lot of people would take that deal! GameStop shareholders, for instance! I spend a lot of time around here writing about meme stocks, and I am not going to discount the value of zaniness in corporate finance.

Other people, though, would not take that deal. EBay’s board, for instance.

EBay Inc. rejected a $56 billion takeover offer from GameStop Corp. Chief Executive Officer Ryan Cohen, describing the unsolicited bid as “neither credible nor attractive.”

Also, ‘neither credible nor attractive’ is a hilarious insult. If I asked a girl out and she responded with that I'd never recover

bloomberg.com/opinion/n…

May 12
at
6:00 PM
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