BlockBeats News, May 20th, GameStop (GME.N) has increased its stake in eBay from about 5% to 6.55%.

On May 12th, eBay rejected GameStop's approximately $56 billion acquisition offer, citing it as "neither credible nor attractive."

Earlier on May 4th, GameStop proactively made a bid to acquire the U.S. online marketplace eBay for approximately $56 billion. GameStop CEO Cohen stated that the company already held about 5% of eBay's shares and proposed an acquisition at $125 per share in cash and stock. If eBay does not accept this proposal, Cohen is prepared to launch a proxy battle and will directly present the offer to the shareholders.