GameStop bids $55.5B for eBay takeover

GameStop has made an unsolicited $55.5 billion cash-and-stock offer to acquire eBay, marking a bold attempt to expand beyond its core retail business.

The proposal values eBay at $125 per share, representing a 46% premium to its unaffected February share price, and follows GameStop building a roughly 5% stake.

GameStop said the combined company would be led by CEO Ryan Cohen, as it outlined plans to transform eBay into a significantly larger platform.

The retailer estimates potential cost savings of about $2 billion annually through cuts to marketing, product development and administrative expenses.

GameStop also suggested using its 1,600 US stores to support eBay’s logistics and authentication operations, integrating physical and online infrastructure.

The bid raises questions about financing and execution, given eBay’s roughly $46 billion market value compared with GameStop’s $12 billion valuation.

The move follows GameStop’s broader strategy shift, including its 2025 adoption of a Bitcoin treasury approach and continued push into new business lines.