GameStop is reportedly preparing an acquisition offer for eBay. This move supports CEO Ryan Cohen’s plan to significantly increase the retailer’s market value.
Reports indicate GameStop has discreetly accumulated a stake in eBay. A formal bid could be submitted as early as this month.
eBay currently holds a market capitalization of approximately $46 billion. GameStop maintains a market capitalization of $12 billion. The eBay valuation is nearly four times larger than GameStop's current value.
eBay shares rose significantly in after-hours trading following the news. Ryan Cohen may take the proposal directly to shareholders if eBay management rejects the bid.