• eBay has rejected GameStop's $55.5 billion takeover bid, calling it "neither credible nor attractive."
• The rejection cites uncertainty over GameStop's acquisition financing and operational risks.
• GameStop's CEO Ryan Cohen proposed leveraging its 1,600 stores for eBay’s growth.
• Analysts express doubts about the feasibility of the deal, citing GameStop's financial position.
• GameStop plans to approach eBay shareholders directly to push for the takeover.

eBay has formally rejected GameStop's ambitious $55.5 billion takeover offer, deeming it "unsolicited" and "neither credible nor attractive." The decision comes amidst skepticism regarding the financing of the proposed deal, as GameStop's market capitalization is only about a quarter of eBay's, which has recently been valued at approximately $48 billion, according to Reuters, CBS News, and BBC.

eBay's Board of Directors expressed concerns about the operational risks and governance issues related to a potential merger, with a noted impact on eBay's long-term growth and profitability. Analysts have indicated the deal's financial structure may burden eBay with GameStop's existing debt, raising doubts regarding the viability of the takeover, according to Reuters and BBC.

Despite the rejection, GameStop's CEO Ryan Cohen has indicated plans to take the proposal directly to eBay shareholders if negotiations with the board do not proceed favorably. Cohen believes that GameStop's existing physical locations could bolster eBay's competitiveness against major rivals like Amazon, as stated in CBS News and BBC.