EBay rejects GameStop’s $56 billion bid, putting bitcoin exposure back in focus

The online marketplace's board called the half-cash, half-stock offer "neither credible nor attractive" Tuesday. What to know : EBay’s board rejected GameStop’s $56 billion half-cash, half-stock takeover bid as “neither credible nor attractive,” citing financing concerns and confidence in its current strategy. The market signaled skepticism that the deal will close, with eBay shares trading well below GameStop’s $125-per-share offer and both stocks slipping after the rejection. GameStop’s sizable bitcoin options position and limited discretionary assets, along with warnings from investor Michael Burry about debt and dilution, raise questions about how it would fund a higher or hostile bid.(Coindesk)