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.
The Wall Street Journal reported on May 3 that GameStop is readying an offer to purchase eBay. No formal bid has been submitted yet, but it is expected as soon as later this month. As of Friday's market close, GameStop held a market value of around $11 billion, while eBay's reached $45 billion, according to the report. Details on the offer's terms remain undisclosed. Ryan Cohen, GameStop's CEO, might take the proposal directly to eBay shareholders if the company rejects it, the Wall Street Journal noted. Cohen stands to gain $35 billion in stock if he boosts GameStop's market value to $100 billion by meeting specific criteria. Such a deal could help transform GameStop beyond its roots as a video game and collectibles retailer. The company has faced volatility recently. In 2022, it launched an NFT marketplace that closed a couple of years later. GameStop also announced a shift toward retro gaming at select stores and shuttered over 400 US locations earlier this year.
