GameStop stock falls as eBay rejects $56B takeover bid

eBay has rejected an unsolicited $56 billion takeover proposal from GameStop (GME), dealing a major setback to GameStop Chief Executive Officer Ryan Cohen and raising fresh doubts about the feasibility of one of the most ambitious deals attempted by a meme-stock-era company. The e-commerce company said its board had unanimously rejected the proposal, citing concerns over financing uncertainty and operational risks associated with combining the two businesses.