Ryan Cohen’s GameStop Offers to Buy eBay in $56 Billion Cash-and-Stock Deal
GameStop has made an unsolicited offer to buy eBay for about $56 billion, a move that would dramatically expand the video game retailer’s push into e-commerce.
The proposal values eBay at $125 per share in cash and stock. GameStop says CEO Ryan Cohen would lead the combined company if the deal closes, and the company argues that eBay could become a stronger competitor to Amazon by combining its marketplace with GameStop’s roughly 1,600 U.S. stores.
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The deal is far from certain. eBay said its board will review the unsolicited proposal with advisers, according to AP. Reuters also reported investor skepticism, noting that eBay shares were trading well below the offer price.
The next step is whether eBay’s board engages with GameStop or rejects the bid, which could set up a direct fight for shareholder support.
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