eBay stock falls after GameStop CEO comments on potential deal

Investing.com -- eBay Inc. (NASDAQ: EBAY) shares dropped 1.4% to a session low Wednesday following comments from GameStop CEO Ryan Cohen regarding a potential acquisition.

Cohen appeared on Bloomberg TV and made several statements about GameStop's pursuit of eBay, saying the company would bring its plan directly to shareholders and stating "we're coming for eBay one way or another." The GameStop CEO said eBay executives are "entrenched and hiding behind advisors" and indicated he would not "negotiate against myself" to improve the offer.

Cohen said that debt from an eBay-GameStop combination would be investment grade and that GameStop holders would benefit from cost savings in the deal. He also noted that many investors have expressed interest in the potential transaction.

The comments came as GameStop pursues what appears to be an unsolicited approach for the e-commerce platform. Cohen's remarks suggest tensions between the two companies as GameStop seeks to advance its acquisition proposal.

eBay shares declined following the televised interview as the market digested Cohen's aggressive stance on pursuing the deal despite apparent resistance from eBay's management.

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