GameStop Corp. (NYSE:GME) is reportedly preparing a takeover offer for California-based e-commerce company eBay Inc. (NASDAQ:EBAY) as soon as this month, as CEO Ryan Cohen pursues a mandate to lift the video game retailer’s market value more than tenfold to $100 billion.
GameStop has been quietly building a stake in eBay ahead of a potential offer, The Wall Street Journal reported on Friday, citing sources.
| Company | Market Cap | 52-Week High | 52-Week Low |
|---|---|---|---|
| GameStop | $11.90B | $35.81 | $19.93 |
| eBay | $46.21B | $107.34 | $65.01 |
GME shares rose 3.96% while EBAY surged 11.82% in after-hours trading following the report.
Cohen Eyes eBay Directly
Details of the potential offer could not be learned. If eBay is not receptive, Cohen could take the offer directly to shareholders, the Journal reported.
According to an SEC filing, eBay had 448 million shares of common stock issued and outstanding as of Feb. 13.
Cohen had signaled the move in January, saying he was considering a significant …
