eBay rejects GameStop's $56B offer: "Your proposal is neither credible nor attractive"

eBay's board of directors today rejected GameStop's $55.5 billion offer to buy the company. "We have concluded that your proposal is neither credible nor attractive," eBay Chairman Paul Pressler wrote in a letter to GameStop CEO Ryan Cohen. Pressler said the board and its independent advisors thoroughly reviewed GameStop's unsolicited bid and found numerous problems.