GameStop persists with $56B eBay bid despite rejection

GameStop persists with its $56B eBay bid despite board rejection. Ryan Cohen’s $500M backing and cost-saving promises fuel investor interest as the company pledges more details.

GameStop is pressing ahead with its ambitious $56 billion bid to acquire eBay, despite the e-commerce giant’s board rejecting the unsolicited cash-and-stock offer as neither credible nor attractive. The proposal, led by Ryan Cohen and first made in May, values eBay at $125 per share—a 46% premium over its early 2026 price—and is structured as a 50/50 cash and stock deal. GameStop has disclosed beneficial ownership of about 9% of eBay shares, with regulatory conditions satisfied, allowing potential conversion of options into voting shares. Cohen has personally committed $500 million to the bid, aiming to address skepticism about financing, as the deal would require significant leverage. GameStop projects adjusted EBITDA above $600 million for 2026, up from $345.4 million in 2025, and claims the merger could generate over $2 billion in annual cost savings. Despite eBay’s swift rejection, GameStop remains committed, promising further details and strategic presentations, while its stock has rallied on the news.