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GameStop Corp (NYSE:GME)'s board has scrapped a proposed CEO performance award after a request from CEO Ryan Cohen, who said he wants leadership focused on the company's operating performance and its pursuit of online marketplace eBay. The award, approved in January 2026, would have paid...
Investing.com -- GameStop Corp. said Tuesday its board has approved Chairman and CEO Ryan Cohen's request to withdraw a proposed CEO Performance Award from the company's proxy statement as the retailer shifts focus to its planned acquisition of eBay Inc.
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GameStop CEO Ryan Cohen told eBay's board on Wednesday that they should not reject his $56 billion takeover proposal and the e-commerce company's shareholders deserve a chance to evaluate it. Cohen reacted one day after eBay rejected his unsolicited offer to buy the company, calling the proposal "neither credible nor attractive." In a letter to eBay's chairman and separate online interview with journalist Piers Morgan, Cohen, a billionaire investor, signaled his intention to keep going and hinted at possible next steps to try and win his prize.
GameStop CEO Ryan Cohen on Wednesday told eBay's board that the company should not reject his $56 billion takeover proposal and that the company's shareholders deserve a chance to evaluate it. Cohen wrote to the chairman of eBay that he requested a meeting with the company's board but that the board declined, according to the letter which was seen by Reuters. Cohen sent his letter one day after eBay on Tuesday rejected his stock and cash offer.
Online seller eBay is rejecting an unsolicited $56 billion takeover offer from GameStop, calling the proposal “neither credible or attractive.” Ryan Cohen’s GameStop disclosed earlier this month that it was pursuing a takeover of eBay, seeing it as a vehicle to compete with online retail giant Amazon. The national gaming retailer said at the time that its approximately 1,600 U.S. stores could become drop-off and shipping locations.
EBay’s board rejected GameStop’s unsolicited $56 billion takeover proposal. “We have concluded that your proposal is neither credible nor attractive,” eBay’s board wrote in a letter to GameStop CEO Ryan Cohen released today.
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