The American video game company GameStop offered about $55.5 billion to acquire the giant eBay digital commerce platform, while its CEO, Ryan Cohen, spoke of efforts to make eBay a real competitor to Amazon.
Published on: 04/05/2026 - 08:50
Video game company GameStop said on Sunday that it had submitted an offer to acquire the giant eBay digital commerce platform for about $55.5 billion, amid aspirations to turn it into a strong competitor to Amazon.
The American company said in a statement that it offered $125 per share, an increase of 46 percent over the average share price since the start of its acquisition of eBay shares on February 4.
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In this context, Ryan Cohen, CEO of GameStop, said in an interview with the Wall Street Journal on Sunday: “The value of eBay (..) should and will be much higher.” He continued: “I am thinking of turning eBay into a company worth hundreds of billions of dollars,” adding: “It could become a real competitor to Amazon.”
Also, GameStop confirmed that it had received a letter of commitment from TD Bank, an American branch of the Canadian TD Bank Group, to finance approximately $20 billion through the issuance of debt securities. The company stated in its press release that it had cash reserves amounting to about 9.4 billion US dollars as of January 31.
It indicated that it is able to achieve annual cost savings worth two billion US dollars within 12 months of completing the deal.
The statement also explained that these savings alone will raise eBay's earnings per share from $4.26 to $7.79 in the first year.
Cohen confirmed to the Wall Street Journal that if eBay's management rejects the offer, he will not hesitate to communicate with shareholders. The newspaper indicated that the next annual general meeting of the eBay platform is scheduled to be held in June, but the deadline for submitting draft resolutions has passed.
For your information, the market value of GameStop at the close of trading on Friday was $11.89 billion, while the value of eBay was $46.21 billion.
France 24/AFP
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