GameStop CEO Ryan Cohen issued an unsolicited $56 billion offer to acquire eBay. The move aligns with Cohen’s strategy to increase GameStop’s market value. This acquisition would shift the company’s focus from video game retail to the broader e-commerce market.
GameStop reportedly accumulated a stake in eBay prior to the announcement. Cohen may launch a bid directly to shareholders if eBay’s board rejects the proposal.
eBay shares jumped more than 10% in after-hours trading. GameStop shares rose approximately 4% following the report.