EBay unbans Ryan Cohen as it rejects GameStop's takeover attempt

By Weston Blasi

The e-commerce company had permanently banned Cohen's eBay account, which included GameStock merch and other items listed for as much as $14,000

EBay said the $56 billion buyout attempt from GameStop was "neither credible nor attractive."

EBay may have rejected GameStop's takeover bid, but there's still some good news for Ryan Cohen: He's allowed on the resale site again.

Cohen, the CEO of GameStop (GME), submitted a $56 billion buyout offer for eBay (EBAY) last week - and his eBay account was permanently banned from the platform just a few days later for "putting the eBay community at risk."

His eBay seller's page featured sports collectibles and plenty of GameStop-related merchandise, such as a GameStop mug for over $3,000, a GameStop mouse pad for over $1,500 and a pair of socks for over $14,000.

Cohen's eBay account was initially flagged for suspicious activity by eBay's internal artificial-intelligence tool, leading to an automatic ban, a person familiar with the matter told MarketWatch. But after further review, his account was reinstated and he is now able to buy and sell again.

It's not clear how long Cohen's account was under the ban. On May 6, he posted, "I have been suspended from eBay" along with a screenshot of the ban notice.

On Tuesday, eBay officially rebuffed GameStop's unsolicited takeover proposal. The board of directors at eBay called the offer "neither credible nor attractive."

"With its differentiated global marketplace and a clear strategy, eBay's Board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders," Paul S. Pressler, eBay's chair, said in a release.

Read more: The Ryan Cohen saga gets a new twist as eBay shoots down GameStop's takeover offer

GameStop's ability to finance the takeover deal with a mix of cash and stock was subject of debate on Wall Street. GameStop is a much smaller company than eBay.

Smaller companies do occasionally take over larger ones, as evidenced by Paramount Skydance's (PSKY) recent agreement to take over the much larger Warner Bros. Discovery (WBD).

A representative for GameStop didn't immediately respond to a request for comment.

After the news of the rejected bid, shares of GameStop were down 0.6% and shares of eBay were down 0.3% on Monday as the overall U.S. stock market pulled back amid inflation fears.

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-Weston Blasi

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05-12-26 1142ET