GameStop Corp. (NYSE:GME) on Sunday proposed to acquire eBay Inc. (NASDAQ:EBAY) for $125 per share in a cash-and-stock transaction, valuing the video game retail chain at approximately $55.5 billion.
The offer represents a 20% premium to eBay’s closing price on Friday.
This move by GameStop follows reports that the company has been quietly building a stake in the e-commerce firm, aiming to increase its market value significantly, with CEO Ryan Cohen expressing ambitions to reach a $100 billion valuation.
Deal Structure, Financing
Under the proposed terms, eBay shareholders would receive consideration split evenly between cash and GameStop stock, with the ability to elect their preferred mix, subject to pro-rata allocation. GameStop disclosed it has already assembled a 5% economic interest in eBay through a combination of derivatives and direct share ownership.
The company plans to fund the cash portion using its existing balance sheet, about $9.4 billion in cash and liquid investments as of Jan. 31, 2026, alongside third-party financing. It has secured a “highly confident” financing letter from TD Securities for up to $20 billion.
GameStop added that it plans to submit a Schedule 13D and make an HSR filing on …
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