GameStop acquires 9.8 percent stake in eBay

Kiswahili

GameStop now owns 9.8 percent of eBay, worth roughly $5 billion. The move advances CEO Ryan Cohen's campaign to acquire the online marketplace.

GameStop filed regulatory documents showing its ownership position in eBay. The stake equals about half of GameStop's own market capitalization.

Cohen told Bloomberg this week that the goal is to increase profitability through cost cuts. He said GameStop achieved its highest earnings ever with fewer stores and plans similar changes at eBay.

An eBay representative previously described any potential deal as neither credible nor attractive. Cohen added that he would not share full details of his business plan with competitors.

The filings include Cohen's statement that GameStop is coming for eBay one way or another.

Makala yanayohusiana

Wall Street traders celebrate GameStop's $55.5 billion eBay acquisition bid featuring bitcoin funding.
Picha iliyoundwa na AI

GameStop details $55.5B eBay bid with 5% stake, bitcoin funding in focus

Imeripotiwa na AI Picha iliyoundwa na AI

Updating its unsolicited bid announced earlier on May 4, GameStop has disclosed a 5% economic stake in eBay while proposing a $55.5 billion non-binding acquisition at $125 per share in cash and stock. Funding includes $9.4 billion in cash and liquid investments—featuring $368 million in bitcoin—and up to $20 billion in financing, prompting questions over the retailer's cryptocurrency future.

GameStop offers $56 billion to acquire eBay

GameStop has officially bid $56 billion to buy eBay, a company four times its size. CEO Ryan Cohen announced the unsolicited offer on Sunday night, proposing $125 per share in a half-cash, half-stock deal. The move aims to combine GameStop's retail presence with eBay's online marketplace amid the retailer's pivot to collectibles like Pokémon cards.

GameStop reportedly prepares offer to acquire eBay

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GameStop is preparing a potential buyout offer for eBay, according to a Wall Street Journal report. The offer could come as soon as later this month. GameStop's market value stands at about $11 billion, compared to eBay's $45 billion.

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