Overview
- GameStop disclosed Sunday a nonbinding $125-per-share offer to acquire eBay in a proposal valuing the marketplace at about $55.5–56 billion.
- eBay said Monday its board is reviewing the offer and advised shareholders to take no action while it evaluates the proposal.
- GameStop said it has about $9.4 billion in cash and a “highly confident” commitment for up to $20 billion in debt from TD Securities, leaving a funding gap that could require issuing stock.
- The company revealed a roughly 5% economic stake in eBay and pledged $2 billion in first‑year cost cuts while pitching its 1,600 U.S. stores for authentication, fulfillment and live commerce.
- eBay shares climbed to around $110 on Monday as GameStop fell, reflecting doubts the deal will close, and Ryan Cohen said he may take the bid directly to shareholders if the board resists.