GameStop CEO Ryan Cohen has made an unsolicited offer to acquire eBay in a deal valued at approximately $56 billion, marking one of the most ambitious takeover attempts in recent years. The proposal, first reported by The Wall Street Journal, has not yet been officially verified by Reuters.
The offer is structured as a mix of cash and stock, with a proposed price of around $125 per share—representing roughly a 20% premium over eBay’s recent closing price. Cohen has also indicated that GameStop has already built a stake of about 5% in eBay, signaling serious intent behind the acquisition attempt.
The move is particularly notable given the size disparity between the two companies, with eBay’s market valuation significantly larger than GameStop’s. Despite this, Cohen appears prepared to pursue the deal aggressively and may take the proposal directly to shareholders if the board does not respond favorably.
As part of the financing strategy, GameStop has reportedly secured a commitment for approximately $20 billion in debt funding and is exploring additional investment sources to support the transaction.
The proposed acquisition reflects Cohen’s broader strategy to reposition GameStop and expand beyond its traditional retail model. If successful, the deal could reshape the competitive landscape of e-commerce, with ambitions to build a stronger challenger in the global online marketplace segment.
