GameStop’s May 2026 unsolicited $55–56 billion cash-and-stock bid for eBay at $125 per share was swiftly rejected by eBay’s board as neither credible nor attractive, citing financing uncertainties, leverage risks, governance concerns, and doubts over operational execution. eBay has since reaffirmed its standalone strategy, while GameStop’s roughly $13 billion market capitalization and $4.9 billion eBay stake underscore the scale mismatch and funding challenges, including reliance on third-party debt and underwater warrants expiring October 30. Recent reports indicate GameStop may pivot toward a partnership or withdraw the proposal entirely. These developments have produced strong trader consensus against completion, though a successful hostile campaign or revised financing could still alter the outcome.