GameStop commits to continue pursuing acquisition plan for eBay despite previous rejection

CoinFeed June 30 news, according to Reuters, GameStop last Friday committed to continue advancing its approximately $56 billion cash-and-stock takeover bid for eBay, despite the eBay board having previously rejected the proposal. GameStop CEO Ryan Cohen proposed the acquisition in May, saying the combined company would be better positioned to challenge Amazon, and expressed interest in running the new entity. GameStop said last Tuesday it would release detailed strategic presentation materials, and on Friday reiterated that 'more materials related to the proposed transaction are coming soon.'