GameStop CEO auctions items on eBay to fund purchase

GameStop chief executive Ryan Cohen has listed a collection of personal and company-related items for sale on eBay. The move comes as the retailer explores acquiring the online marketplace itself. Proceeds from the auctions are described as a contribution toward that goal.

Cohen posted a link to the listings on social media on May 6. The items range from retro video games, including sealed copies of Yoshi’s Cookie and the original Metroid, to a Master Chief statue and a Vault Boy statue. Other offerings include a GameStop hat, a square of carpet removed from a store, an iPhone, and a PSA 10 trading card showing Donald Trump’s 2016 inauguration. Each listing includes a signed copy of Cohen’s letter proposing the eBay acquisition.

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

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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