Overview
- GameStop, which on Sunday unveiled a $125-per-share offer for eBay worth about $56 billion, proposed paying half in cash and half in GameStop stock backed by a TD Securities letter for up to $20 billion.
- Following Monday’s tense CNBC interview that dodged basic funding math, GameStop shares fell more than 10% as questions mounted about how to close a multibillion-dollar gap.
- Cohen leaned into a public campaign Wednesday by posting, “I’m selling stuff on eBay to pay for eBay,” and listing GameStop signs, retro games, sports cards, and other memorabilia with a hand-signed copy of his offer letter.
- Hours after that post, he said eBay had permanently suspended his account for “putting the eBay community at risk,” yet by Thursday the storefront and auctions still appeared live in several outlets’ checks.
- eBay says it is reviewing the unsolicited bid, while market signals and commentary point to doubt, including eBay shares near $110 versus the $125 offer, GameStop’s rising long-term debt near $4.2 billion, and investor pullback such as Michael Burry selling his stake.