GameStop has made an offer to purchase eBay for $55.5 billion. On Sunday, GameStop proposed an offer of $125 per share for eBay in cash and stock options. Currently, GameStop has just a 5% stake in the online marketplace.
GameStop CEO Ryan Cohen, noted anti-woke supporter and 2020 election denier, says that GameStop has already received a commitment from TD Securities to contribute $20 billion towards the deal. In response to the offer, eBay stated that they will "review and consider the unsolicited proposal to determine the course of action that it believes is in the best interests of the company and all eBay shareholders."
Further statements from Cohen seems to suggest that he is prepared to initiate a hostile bid for eBay if the deal is rejected. Cohen wants to turn eBay into a "legit competitor to Amazon." His remarks come from reporting by The Wall Street Journal.
"EBay should be worth—and will be worth—a lot more money," Cohen said in an interview. "I'm thinking about turning eBay into something worth hundreds of billions of dollars."
