eBay
GameStop details $55.5B eBay bid with 5% stake, bitcoin funding in focus
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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.
Online marketplace eBay has introduced an authenticity guarantee service for high-value trading cards in the UK. The program provides expert verification for eligible items priced at £500 and above.
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eBay's board of directors has firmly rejected a $56 billion takeover offer from GameStop CEO Ryan Cohen, describing the proposal as neither credible nor attractive.
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.
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Resellers are listing newly announced Pokémon Lego sets on eBay for significantly more than their retail prices, shortly after pre-orders sold out. The high-demand items, including a large Kanto starters model and a bonus badge collection, are fetching hundreds of dollars extra despite not yet being shipped. Fans hoping for the exclusive gifts face steep markups from scalpers.