GameStop Proposes $56 Billion eBay Acquisition, Board Rejects Bid
The bid positions GameStop as a buyer with cash and conviction in physical media's value, even as eBay dismissed the offer as unrealistic.
Reporting from 1 sources: 4Gamer.net.
GameStop made a $56 billion acquisition proposal to eBay in May 2026, offering $125 per share split between cash and stock. eBay's board rejected the bid as not credible, citing GameStop's smaller market cap and governance concerns. The move follows Ryan Cohen's turnaround of the retailer after the 2021 meme stock frenzy.
GameStop, the game retail chain once written off as a declining business, proposed to buy eBay for about $56 billion in May 2026. The offer of $125 per share would be half cash and half GameStop stock. eBay's board rejected the proposal, calling it neither credible nor attractive, pointing to GameStop's market capitalization being roughly a quarter of eBay's and concerns about post-merger debt and governance.
The bid comes after Ryan Cohen, who became GameStop's largest shareholder during the 2021 meme stock frenzy, overhauled the company. He closed unprofitable stores, cut costs, and raised over $2 billion in cash through stock issuance, paying off long-term debt and returning the company to profitability in fiscal 2023 for the first time since fiscal 2017. GameStop already holds about 5% of eBay's stock, and Cohen appears willing to pursue a hostile takeover.
Synthesized by Yomimono from the 1 cited source below, including Japanese-language reporting where cited, then editorially reviewed before publishing.