GameStop
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.
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.
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Ryan Cohen’s eBay auctions of collectibles, intended to help fund a bid for the marketplace itself, have drawn accusations that some items came from the former Game Informer vault.