| Mobile Web

Search results for EBay

Crypto

EBay rejects $56 billion GameStop bid, spotlight returns to bitcoin strategy

EBay rejected GameStop’s $56 billion takeover proposal, bringing renewed market attention to GameStop’s bitcoin exposure. The EBay board declined a $125-per-share offer split evenly between cash and stock, citing doubts about credibility and financing. EBay shares traded well below the offer price. GameStop holds about $368 million in bitcoin exposure via a covered call strategy and moved most of 4,709 BTC to Coinbase Prime, recorded as receivables.

Games & Commerce

GameStop pursues $55.5 billion bid for eBay

Video game retailer GameStop has made a private $55.5 billion takeover offer for e-commerce company eBay, the BBC and other foreign media reported on May 4. GameStop offered $125 per eBay share, $20 above Friday’s New York close, and plans to pay in a mix of cash and stock. The BBC said GameStop secured a $20 billion debt financing commitment from TD Securities. CEO Ryan Cohen said he would appeal directly to shareholders if eBay’s board rejects the proposal.

AI & Enterprise

GameStop considers bid for eBay, WSJ reports

Video game retailer GameStop is considering making a proposal to acquire e-commerce platform eBay as early as May, the Wall Street Journal reported. GameStop CEO Ryan Cohen previously said the company was seeking retail acquisition targets to expand beyond offline game sales, a direction backed by major shareholders including Michael Burry. After the report, GameStop shares rose 6 percent and eBay shares gained 13 percent in after-hours trading.