Overview
- eBay, which confirmed Monday it had received the $125‑per‑share offer split between cash and GameStop stock, said its board will evaluate the proposal for shareholder value.
- GameStop disclosed a roughly 5% economic stake in eBay and cited about $9.4 billion in cash plus a "highly confident" TD Securities letter for up to $20 billion in debt.
- Ryan Cohen said he would lead the combined company and is prepared to take the bid directly to eBay shareholders through a proxy fight if the board resists.
- eBay shares rose but stayed well below the offer price as GameStop fell, reflecting skepticism from analysts who flagged funding gaps, potential dilution, and limited strategic fit.
- Cohen pitches $2 billion in first‑year cost cuts and use of 1,600 stores for authentication, intake, fulfillment, and live commerce, though any deal would still need shareholder approval and antitrust review.