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eBay tells GameStop to keep the carpet: $56bn bid “neither credible nor attractive”

Ryan Cohen offered $125 a share, partly to be funded by a $20bn TD Securities commitment letter and, briefly, by selling old store signs on eBay itself. The eBay board, which had to ban and then unban him during the process, says no. eBay has formally rejected GameStop’s $56bn takeover bid, telling the video-game retailer’s […]

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eBay rejects GameStop’s $56 billion acquisition bid

eBay has officially rejected GameStop’s offer to buy the online marketplace for $56 billion, citing concerns around “operational risks” and how the acquisition will be financed. In a letter to GameStop CEO Ryan Cohen on Tuesday, eBay’s board of directors said it has “concluded that your proposal is neither credible nor attractive.” “We have taken […]

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ServiceNow lines up $4bn bond sale to refinance Armis acquisition debt

ServiceNow is looking to raise approximately $4bn in a US high-grade bond sale to refinance debt taken on to fund its acquisition of cybersecurity firm Armis Security, Bloomberg reported on Monday. JPMorgan Chase, Wells Fargo, Barclays and Citigroup organised investor calls on Monday ahead of the issuance. The trade will replace a $4bn unsecured term […]

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Prosus targets $3.6bn from Just Eat in European food-delivery push

Prosus is targeting $3.6bn in annual revenue from Just Eat Takeaway, the European food-delivery business it bought for €4.1bn last year, the Napers-controlled investor said in a strategy update on Tuesday. The figure sets a near-term commercial target for the asset that Prosus has spent the past nine months integrating. The company said it plans […]

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Palantir’s true believers are wearing this jacket

In late April, Palantir – the software company that, in recent years, has perhaps become best known for its defense industry contracts and work with Immigration and Customs Enforcement – announced that it would be adding new products to its merch store. The latest offering was a cotton chore coat. At $239 and in bright […]

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Shein takes Temu to London’s High Court over “industrial-scale” copyright theft

The two-week trial opened Monday. Shein’s complaint covers around 2,300 product images; Temu has abandoned its defence of those images and is countering with anti-competition claims. Shein accused Temu of copyright infringement “on an industrial scale” as a two-week trial opened at London’s High Court on Monday. Shein’s barrister, Benet Brandreth, told the court Temu […]

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