<body><p>STORY: :: eBay</p><p>EBay on Tuesday rejected a $56 billion takeover bid from the much smaller GameStop.</p><p>Chairman Paul Pressler said in a statement that the proposal was "neither credible nor attractive."</p><p>He also pointed to other concerns regarding the bid, including its financing, its impact on eBay's long-term growth and the leadership structure of a potentially combined company.</p><p>:: eBay</p><p>Pressler added that "eBay's Board is confident the company, under its current management team, is well-positioned to continue to drive sustainable growth."</p><p>GameStop did not immediately respond to a request for comment.</p><p>Last week, the videogame retailer's CEO, Ryan Cohen, surprised Wall Street with his bid, which included a $20 billion debt financing commitment from TD Bank.</p><p>:: eBay</p><p>But analysts and investors have doubted whether the half-cash, half-stock bid would succeed.</p><p>:: eBay website</p><p>Cohen, who has built a 5% stake in eBay, has signaled he may be ready to take the offer directly to shareholders.</p><p>Shares in eBay closed up over 2% on Tuesday, while GameStop fell over 3%.</p></body>
