Connect with us

Technology

eBay Rejects Unsolicited Proposal from GameStop

Published

3 months ago

on

SAN JOSE, Calif., May 12, 2026 /PRNewswire/ — eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced that, following a thorough review with the support of its financial and legal advisors, the company’s Board of Directors has determined to reject GameStop’s unsolicited, non-binding acquisition proposal.

The full text of the eBay Board’s response letter to GameStop CEO, Ryan Cohen, is set forth below:

Dear Mr. Cohen,

The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it.

We have concluded that your proposal is neither credible nor attractive. We have taken into account such factors as 1) eBay’s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay’s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop’s governance and executive incentives.

eBay is a strong, resilient business that has delivered meaningful results over the past several years. We have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, and consistently returned capital to shareholders. 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.

Our team remains focused on executing our strategy and driving our business forward in the best interests of the company, our shareholders, our employees, and millions of buyers and sellers around the world.

Sincerely,

/s/ Paul S. Pressler

Paul S. Pressler
Chairman of the Board of Directors, eBay

About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection. In 2025, eBay enabled nearly $80 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

Forward-Looking Statements
This press release contains forward-looking statements relating to, among other things, the future performance of eBay Inc. and its consolidated subsidiaries that are based on the company’s current expectations, forecasts and assumptions and involves risks and uncertainties. These statements include, but are not limited to, management’s vision for the future of eBay and our ability to accomplish our vision, the future growth in our business, our ability to drive sustainable long-term growth and create lasting value for our shareholders, the impact of current and contemplated strategic initiatives and offerings, partnerships with and acquisitions of other companies, and new and updated product features or programs, including the initiatives, offerings, partnerships, acquisitions, features and programs discussed in our earnings press release for the first quarter 2026, the effects of foreign currency volatility and our ability to respond to such effects, operating efficiency and margins, and dividends and share repurchases. In some cases, forward-looking statements can be identified by terms such as “aim,” “anticipate,” “believe,” “commit,” “consider,” “continue,” “could,” “design,” “develop,” “enable,” “estimate,” “expect,” “forecast,” “future,” “goal,” “impact,” “intend,” “likely,” “maintain,” “may,” “ongoing,” “opportunity,” “optimistic,” “outlook,” “plan,” “possible,” “potential,” “predict,” “probable,” “pursue,” “remain,” “seek,” “should,” “strategy,” “strive,” “target,” “value,” “will,” “would,” or similar expressions, variations and derivative forms and/or the negatives of those words.  Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that eBay expects. These and other risks and uncertainties include market risks, trends and conditions. These and other risks and uncertainties are more fully described in eBay’s filings with the Securities and Exchange Commission, including in the risk factors included in eBay’s Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent reports that eBay files with the Securities and Exchange Commission. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements represent beliefs and assumptions of eBay only as of the date of this press release. eBay does not intend to update, and expressly disclaims any obligation to update, any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law.

Investor Relations Contact:
John Egbert
ir@ebay.com

Media Relations Contact:
Sybille St. Arromand
press@ebay.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ebay-rejects-unsolicited-proposal-from-gamestop-302769000.html

SOURCE ebay Inc.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Strong Alliance, Smart Blueprint for New Power Systems | ZOE and Octopus Energy Sign Strategic Cooperation MOU to Co-Develop China’s VPP and Smart Energy Landscape

Published

6 minutes ago

on

August 4, 2026

By

LONDON, Aug. 4, 2026 /PRNewswire/ — Shanghai ZOE Energy Storage (ZOE) and global clean energy leader Octopus Energy signed a Strategic Cooperation Memorandum of Understanding (MOU) on July 10, 2026 at Octopus Energy’s UK headquarters. The two parties will integrate local industrial resources with cutting-edge international digital energy technologies. They agree to establish a comprehensive co-operation agreement, with a shared ambition to explore a joint venture in China to build a smart energy and virtual power plant (VPP) ecosystem tailored to the domestic market, setting a new benchmark for Sino-foreign energy digital cooperation.

ZOE Energy Storage is a benchmark VPP service provider in China, holding operational VPP licenses in multiple provinces and has established a provincial-level directly dispatched VPP. ZOE offers end-to-end capabilities covering investment, construction, trading, and operations, building deep local competitive moats through its ecosystem partnerships.

Octopus Energy operates across 27 countries, serving 11 million households and managing £7 billion in renewable energy assets, covering PV, storage, heat pumps, and cross-border VPPs. The company has developed proprietary, field-proven AI forecasting, dynamic pricing, and cloud-edge coordinated dispatch systems—its core algorithms having been validated across multiple markets—giving it mastery over the foundational technologies for global VPP operations.

This partnership achieves deep complementary advantages: ZOE will be responsible for domestic VPP business development, integrated hardware & software deployment, compliant operational management, and localized product services; Octopus Energy will contribute its core algorithms and global operational expertise, adapt technologies to Chinese regulations and driving continuous optimization. A joint working group will conduct feasibility studies, compliance assessments, and commercial planning to advance their comprehensive partnership.

The proposed platform will integrate resources from commercial and industrial users, industrial parks, distributed PV, energy storage, and EV charging infrastructure, to build a one-stop intelligent VPP operation system adapted to domestic grid rules. Through fine-grained dispatch, it will enhance returns on distributed assets, smooth renewable fluctuations, and underpin new-type power systems.

Both parties stated that this cooperation marks a strategically significant milestone in cross-border energy technology innovation and synergistic transformation. Looking ahead, they will continue to deepen partnership through co-innovation and market expansion, unlocking distributed energy value with digital technologies, blending international expertise with local practice, and advancing China’s dual-carbon goals while leading the smart energy industry upgrade.

View original content:https://www.prnewswire.co.uk/news-releases/strong-alliance-smart-blueprint-for-new-power-systems–zoe-and-octopus-energy-sign-strategic-cooperation-mou-to-co-develop-chinas-vpp-and-smart-energy-landscape-302842143.html

Continue Reading

Technology

PCG Global Closes Pre-Series A to Capture Southeast Asia’s Fast-Growing Power Demand

Published

6 minutes ago

on

August 4, 2026

By

GUANGZHOU, China and SINGAPORE, Aug. 4, 2026 /PRNewswire/ — PCG Global, a clean energy platform focused on renewable energy infrastructure, has announced the closing of its Pre-Series A financing round, led by GenZero, a wholly owned Temasek platform focused on accelerating decarbonisation globally.

The company was founded in Singapore by the team behind PCG Power, one of China’s leading distributed energy operators, with more than 2GW of operational assets. PCG Global draws on this track record to replicate a full-cycle “development–construction–operation–asset securitisation–reinvestment” model across international markets. It currently has approximately 1.8GW of projects in various stages of development, spanning distributed solar, utility-scale plants, behind-the-meter storage and smart energy management, with a full-lifecycle offering from financing and development through to operations and carbon management.

Proceeds from PCG Global’s first external capital raise will be deployed to accelerate project origination and execution across Southeast Asia, Oceania and the Middle East, where net-zero commitments and rising power demand are driving rapid growth for renewables. The company already has its first operational project in Indonesia and is advancing utility-scale opportunities in the region.

Li Wenxuan, Chairman and CEO of PCG Power, said: “This round reflects institutional confidence in our ability to translate proven distributed energy capabilities into high-quality outcomes beyond China. We look forward to delivering lasting impact across our target markets.”

Kimberly Tan, Head of Investments at GenZero, said: “The PCG team has demonstrated strong capabilities across capital management, project development and operational execution. We believe they are well-positioned to expand globally, particularly in regions with significant demand for clean and resilient energy infrastructure.”

Headquartered in Singapore, PCG Global operates under independent governance with dozens of professionals and development teams spanning its target markets.

About PCG Global

PCG Global is a Singapore-headquartered clean energy platform focused on the investment, development and operation of renewable energy infrastructure across international markets. The company delivers integrated energy solutions spanning solar generation, energy storage and smart energy management, with a full-lifecycle approach from project financing through to carbon asset management.

About GenZero

GenZero is an investment platform company focused on accelerating decarbonisation globally. Founded by Temasek, it seeks to deliver positive climate impact alongside long-term sustainable financial returns by investing in scalable solutions.

Media Contacts:

PCG Global – Public Relations: pr@pcgglobal.com  GenZero – Michelle Tan: michelletan@genzero.co  

 

View original content:https://www.prnewswire.com/apac/news-releases/pcg-global-closes-pre-series-a-to-capture-southeast-asias-fast-growing-power-demand-302842067.html

SOURCE PCG Global

Continue Reading

Technology

PCG Global Closes Pre-Series A to Tap into Oceania’s Accelerating Renewable Capacity Expansion

Published

6 minutes ago

on

August 4, 2026

By

GUANGZHOU, China and SINGAPORE, Aug. 4, 2026 /PRNewswire/ — PCG Global, a clean energy platform focused on renewable energy infrastructure, has announced the closing of its Pre-Series A financing round, led by GenZero, a wholly owned Temasek platform focused on accelerating decarbonisation globally.

The company was founded in Singapore by the team behind PCG Power, one of China’s leading distributed energy operators, with more than 2GW of operational assets. PCG Global draws on this track record to replicate a full-cycle “development–construction–operation–asset securitisation–reinvestment” model across international markets. It currently has approximately 1.8GW of projects in various stages of development, spanning distributed solar, utility-scale plants, behind-the-meter storage and smart energy management, with a full-lifecycle offering from financing and development through to operations and carbon management.

Proceeds from PCG Global’s first external capital raise will be deployed to accelerate project origination and execution across Southeast Asia, Oceania and the Middle East, where net-zero commitments and rising power demand are driving rapid growth for renewables. The company already has its first operational project in Indonesia and is advancing utility-scale opportunities in the region.

Li Wenxuan, Chairman and CEO of PCG Power, said: “This round reflects institutional confidence in our ability to translate proven distributed energy capabilities into high-quality outcomes beyond China. We look forward to delivering lasting impact across our target markets.”

Kimberly Tan, Head of Investments at GenZero, said: “The PCG team has demonstrated strong capabilities across capital management, project development and operational execution. We believe they are well-positioned to expand globally, particularly in regions with significant demand for clean and resilient energy infrastructure.”

Headquartered in Singapore, PCG Global operates under independent governance with dozens of professionals and development teams spanning its target markets.

About PCG Global

PCG Global is a Singapore-headquartered clean energy platform focused on the investment, development and operation of renewable energy infrastructure across international markets. The company delivers integrated energy solutions spanning solar generation, energy storage and smart energy management, with a full-lifecycle approach from project financing through to carbon asset management.

About GenZero

GenZero is an investment platform company focused on accelerating decarbonisation globally. Founded by Temasek, it seeks to deliver positive climate impact alongside long-term sustainable financial returns by investing in scalable solutions.

Media Contacts:

PCG Global – Public Relations: pr@pcgglobal.com  GenZero – Michelle Tan: michelletan@genzero.co  

View original content:https://www.prnewswire.com/apac/news-releases/pcg-global-closes-pre-series-a-to-tap-into-oceanias-accelerating-renewable-capacity-expansion-302842127.html

SOURCE PCG Global

Continue Reading

Trending