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eBay rejects GameStop's approximately $56 billion acquisition offer
: According to market sources, eBay has rejected GameStop's roughly $56 billion acquisition offer, calling the proposal "neither credible nor attractive."In a previous report, on May 4, GameStop proposed to acquire eBay for $125 per share in a cash-and-stock deal. GameStop CEO Ryan Cohen stated that the company already holds approximately 5% of eBay's shares. If eBay rejects the acquisition plan, it will consider launching a proxy fight and directly advance the proposal to shareholders.
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GameStop CEO Ryan Cohen’s account was permanently banned from the platform two days after he proposed acquiring eBay.
According to The Kobeissi Letter (@KobeissiLetter), Ryan Cohen, CEO of GameStop ($GME), was permanently banned from his personal eBay account just two days after proposing a $56 billion acquisition of eBay. eBay’s official reason for the ban was “putting the eBay community at risk.”
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GameStop Plans $56 Billion Bid to Acquire eBay
GameStop intends to bid $56 billion to acquire eBay. It is reported that GameStop CEO Ryan Cohen stated that GameStop currently holds approximately 5% of eBay's shares and has proposed acquiring eBay through a combination of cash and stock at $125 per share, representing a premium of about 20% over eBay's closing price last Friday. (The Wall Street Journal)
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GameStop is planning to make a takeover offer for eBay.
According to sources familiar with the matter, GameStop CEO Ryan Cohen is planning to make a takeover bid for the e-commerce platform eBay, which has a market capitalization of approximately $45 billion, with the aim of transforming it into a retail giant valued at over $100 billion—while GameStop’s current market cap stands at only about $11 billion. Per Bitget market data, following the news, eBay’s after-hours stock price surged more than 10% on U.S. markets, while GameStop rose roughly 5% in tandem. The sources also revealed that GameStop has quietly accumulated shares of eBay and may submit its formal offer as early as later this month; should eBay’s board reject the proposal, Cohen could launch a direct tender offer to eBay’s shareholders. Earlier this year, Cohen explicitly stated he is scouting major acquisition targets in the consumer and retail sectors, seeking to expand the company’s business beyond video games and collectibles. He recently revised his compensation plan, under which he stands to receive up to $35 billion in stock awards if certain conditions—including achieving a $100 billion market capitalization—are met. As of the end of March, GameStop held approximately $9 billion in cash—nearly double the $4.8 billion it held a year earlier—providing financial firepower for this “snake-swallowing-elephant”-style acquisition. Over the past 12 months, eBay’s stock has risen more than 50%; in February, it acquired the secondhand fashion platform Depop for $1.2 billion, further focusing on collectibles.
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