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GameStop Prepares Potential Bid for eBay as Part of Expansion Plan, Sources Say
GameStop has built a stake in eBay and could submit an offer this month as Ryan Cohen seeks a $100 billion-plus expansion.
- On Friday, The Wall Street Journal reported that GameStop is preparing an offer for eBay after quietly building a stake in the company, with a potential bid expected as soon as later this month.
- CEO Ryan Cohen intends to merge both companies to create a $100 billion retail juggernaut, leveraging overlap in customer interest for collectibles and used goods that appeal to video-game enthusiasts.
- Following the report, eBay shares jumped more than 13% in after-hours trading Friday, while GameStop shares rose 7.4%; spokespeople for both companies did not immediately respond to requests for comment.
- With eBay valued at around $46 billion and GameStop at $12 billion, the valuation gap poses significant hurdles; Cohen could bypass eBay's board and take an offer directly to shareholders if rejected.
- GameStop has previously pivoted by closing physical stores and emphasizing collectible toys and trading cards, positioning this potential eBay bid as part of Cohen's broader strategy to transform the retailer into a major e-commerce player.
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According to Wall Street Journal, GameStop is planning a takeover offer for eBay. Details of the offer are not yet known.
The stock exchange reacted immediately with price gains, but official confirmations are still pending. The takeover of an almost four times larger competitor would be unusual.
·Düsseldorf, Germany
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Coverage Details
Total News Sources26
Leaning Left4Leaning Right4Center7Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 27%
C 46%
R 27%
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