eBay's board of directors has officially rejected GameStop's unsolicited acquisition offer of $55.5 billion. In a letter to GameStop CEO Ryan Cohen, eBay Chairman Paul Pressler stated that the proposal was deemed 'neither credible nor attractive.' The board's evaluation highlighted several concerns, including eBay's standalone prospects, uncertainties regarding GameStop's financing, and potential operational risks if the companies merged. GameStop's offer, which proposed purchasing eBay at $125 per share—half in cash and half in GameStop stock—was viewed skeptically, especially since GameStop's market capitalization is only about $10.2 billion. Following the rejection, Cohen may consider a hostile bid by appealing directly to eBay shareholders. The situation remains fluid as GameStop continues to seek funding, claiming it could secure up to $20 billion in debt to support the acquisition.