GameStop tables $55.5 billion takeover bid for eBay
GameStop has made an unsolicited $55.5 billion takeover bid for eBay, valuing the e-commerce platform at $125 per share—a 46 percent premium over eBay’s closing price on February 4, 2026, when GameStop began accumulating its stake in the company. The deal is structured as 50 percent cash and 50 percent GameStop common stock, with the company planning to fund the cash portion through existing reserves and $20 billion in debt financing from TD Securities. GameStop has already secured a 5 percent economic stake in eBay and obtained approval from its own board for the non-binding proposal.
CEO Ryan Cohen aims to transform eBay into a “legit competitor to Amazon,” expanding GameStop’s business beyond games and collectibles into broader e-commerce. However, Cohen’s credibility has been questioned after a recent Wall Street Journal interview in which he struggled to articulate specific details about the deal’s financing and appeared unable to clearly explain how the necessary capital would be sourced.
Ebay confirmed receipt of the offer and stated it will “carefully review and consider” the proposal. The acquisition attempt signals GameStop’s ambitious push for corporate expansion, though vague explanations about funding sources have raised concerns about the deal’s viability.