eBay rejects GameStop's $56B offer: "Your proposal is neither credible nor attractive"

eBay publicly rejected GameStop's $56 billion acquisition offer with a stinging letter calling it 'neither credible nor attractive,' ending the hostile takeover bid in the most dismissive way possible. The rebuff forced GameStop to abandon its bid, losing an estimated $12 million in advisory fees in a single day. This rejection stands in sharp contrast to #2's upcoming Googlebooks launch, which represents a proactive product rollout rather than a defensive acquisition.