Dear Mr. Cohen,
The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it.
We have concluded that your proposal is neither credible nor attractive. We have taken into account such factors as 1) eBay's standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay's long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop's governance and executive incentives.
eBay is a strong, resilient business that has delivered meaningful results over the past several years. We have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, consistently returned capital to shareholders. With its differentiated global marketplace and a clear strategy, eBay's Board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders.
Our team remains focused on executing our strategy and driving our business forward in the best interests of the company, our shareholders, our employees, and millions of buyers and sellers around the world.
Sincerely,
/s/ Paul S. Pressler
Paul S. Pressler Chairman of the Board of Directors.
eBay
https://www.prnewswire.com/news-releases/ebay-rejects-unsolicited-proposal-from-gamestop-302769000.html
Posted by AdVegetable8056
39 Comments
I guess the Half Retard, Half CEO should’ve gone 100% stock
Lmfao
But I don’t get it – it was on the website?
We will see what happens – Ryan Cohen
I use Ebay a lot more than Gamestop and my sane braincells think this should be the other way around. But logic does not win in Casino.
eBay really wrote a whole professional essay just to say “hell no”
It sure did take a long time to come up with just a few sentences.
Working on contingent? No, Money down! – eBay
I think any non-ape with 2 working brain cells could see how retarded this shit was and eBay is still being professional 💀
Bro, someone tell Pressler he just needs to check the website. That will clear this whole thing up.
Apes are chanting for a hostile takeover now, what a time to be alive
I don’t think they looked at the website for details.
Not sure what to do next, calls on everything
Half cash half sock, what is not clear here😂
Translation: Yeah we broke but you more broke than us lol no thanks
eBay clearly hasn’t checked the website before replying
next time next time
Love that they factored this into the decision: “GameStop’s governance and executive incentives”
He will directly reach out to the shareholders
An actual intelligent CEO
The nicest way to say to RC, “you are a fucking clown — go kick ricks.” Sincerely, eBay Board.
I can’t believe Pressler ever landed a C suite gig again after the muckjob he did over at Disney
“Uncertainty regarding your financing proposal.”
In other words, highly regarded financial proposal
“Put the fries in the bag”
Paul sending that laughing emoji at the end.. hurtful
That’s a very politely worded FU with the requisite h/t to fiduciary duty. Well done, EBay.
Did they ack it was 50 cash 50 stock ?
“Your offer was not accepted. The seller has set a minimum price for offers on this item.”
Phew, so does that mean they won’t dilute again.
The are coping by saying “the takeover was always going to hostile”
We’ll see what happens. Well, it happened
It was so predictable, now we’ll see what happens!
But did they know it’s 50% cash and 50% stock? It’s all on their website.
Does the market actually think this will happen? eBay is still up since the first news broke. You’d think it would erase those gains by now. I doubt Gamestop submits another higher offer so I wonder if the market thinks someone else will make an offer higher than $125/share?
“Lmao. Get fucked regard.” – eBay, translated
Everyone point and laugh 🤣👉
Long awkward silence.
I don’t understand the letter.
Bruh the only way cohen is gonna not be a dipshit in my eyes is if he lets this go; the unwind on the arb is gonna cause a nice pump
Ryan cohen is such a sinister person and all the EBAY board and past/present CEOs are nothing but saints and are doing such a great job of accumulating shares In their company and not milking it for all it’s worth! Goooooooo hedge funds!!!