GameStop CEO Cohen makes surprisingly bold eBay bid
By Hillary Remy
Published on May 4, 2026.
GameStop CEO, Ryan Cohen, has made a $55.5 billion unsolicited bid to buy eBay, offering the company at $125 per share in a cash-and-stock transaction. The offer is structured as 50% cash and 50% GameStop stock, with eBay shareholders able to elect their preferred mix. The $125 price represents a 20% premium to eBay's Friday closing price of $104.07. GameStop holds approximately $9.4 billion in cash and has secured a "highly confident" letter from TD Securities for up to $20 billion in debt financing. The company plans to file a Schedule 13D and make an HSR antitrust filing on Monday. Cohen's stated aim is to reach a $100 billion valuation for GameStop, which he believes could transform GameStop from a declining game retailer into a scaled commerce platform.
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