eBay rejects GameStop offer
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People are paying $5,000 for a pack of Pokemon cards at GameStop. For some, it's paying off big time
Buyers can instantly sell back any cards they want to GameStop at 90% of the card's fair market value, minus a 6% selling fee (4). (They can also choose to sell them via Ebay or other methods, likely earning more, but those will take longer for them to receive the funds.)
Bay has rejected GameStop's unsolicited $56 billion takeover bid, calling it "neither credible nor attractive," according to a letter from eBay chairman Paul Pressler seen by Bloomberg. That reaction may set in motion an attempt by GameStop to take the offer directly to eBay's shareholders or replace eBay's board with one favorable to its offer via proxy fight.
GameStop Corp shares spiked and then quickly dropped in post-market trading Monday after cryptic social media posts showed up and then disappeared from the social media account of Keith Gill.
A recap, for those who haven't been following the surrounding circus of all this: GameStop sells various tiers of both physical and digital Pokémon cards. The more you pay, the higher the odds that the pack will contain an item of high value.
GameStop CEO Ryan Cohen is raising money to buy eBay and in a quirky twist, he’s even selling personal items like old socks, trading cards, and mugs to help fund it.
Ryan Cohen is known as a maverick on Wall Street, admired by some for his operational acumen and savvy financial engineering. But the rollout last week of his audacious proposal to merge GameStop, the video game retailer he runs,
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GameStop CEO's eBay account has been reinstated after it was suspended for 'suspicious activity'
CEO Ryan Cohen listed his "stuff" on eBay in a publicity stunt tied to GameStop's efforts to acquire the company. Then, his account got flagged.
The GameStop chief, who proposed acquiring eBay for $55.5 billion Monday, was selling GameStop-related merchandise through his account.