eBay Inc. (NASDAQ: EBAY) announced that its Board of Directors has rejected an unsolicited, non-binding acquisition proposal from GameStop Corp., according to a company statement released May 12, 2026.

The rejection followed what eBay described as a thorough review conducted with support from financial and legal advisors. In a letter to GameStop CEO Ryan Cohen, eBay Board Chairman Paul S. Pressler stated the proposal was "neither credible nor attractive."

The board cited six factors in its decision: eBay's standalone prospects, uncertainty regarding GameStop's financing proposal, the impact on eBay's long-term growth and profitability, leverage and operational risks of a combined entity, valuation implications, and GameStop's governance and executive incentives.

"eBay is a strong, resilient business that has delivered meaningful results over the past several years," Pressler wrote in the response letter. The board expressed confidence that eBay is positioned to continue driving growth and delivering value to shareholders under current management.

The San Jose-based company reported enabling nearly $80 billion in gross merchandise volume in 2025. eBay operates as a global marketplace connecting buyers and sellers across more than 190 markets worldwide.

No details about the terms or value of GameStop's proposal were disclosed in eBay's announcement. The information was contained in a press release statement from eBay.