3 hours ago - Business

eBay rejects GameStop's takeover offer

eBay on Tuesday rejected a $55 billion takeover offer from GameStop, calling it "neither credible nor attractive."

The big picture: This reads like slapping away a mosquito, rather than trying to firm up financing or solicit a higher price.

That may not sit well with GameStop CEO Ryan Cohen, who's a big admirer of GameStop CEO Ryan Cohen.

Catch up quick: GameStop hadn't yet explained how it would finance an acquisition of the significantly larger eBay.

It had a "highly confident letter" from TD Securities to lend up to $20 billion, but the math still didn't yet work.
In a contentious CNBC interview last week, Cohen wouldn't elaborate.

The bottom line: This may not be over, even if it probably should be