An article summarized by engadget:
GameStop has made an unsolicited bid to acquire eBay for $125 per share, valuing the deal at roughly $56 billion. The proposed structure would be split evenly between cash and GameStop stock. GameStop says it has about $9.4 billion in cash and argues that its 1,600 U.S. stores could support eBay’s operations through services like authentication, fulfillment, and live commerce.
As part of the proposal, CEO Ryan Cohen said he would lead the combined company and be compensated based solely on performance. eBay confirmed it received the offer but noted there had been no prior discussions, signaling the bid came as a surprise. The move is especially notable given GameStop’s smaller size, with a market value around $11 billion compared to eBay’s roughly $45 billion.
The potential acquisition reflects Cohen’s broader effort to transform GameStop beyond its traditional retail model. The company has experimented with new strategies in recent years, including an NFT marketplace that ultimately failed and a pivot toward retro gaming, while also closing hundreds of stores. A deal of this scale could dramatically reshape GameStop’s future, but given the size gap and lack of prior talks, significant hurdles remain.
