GameStop bids $55.5B to acquire eBay, aiming to challenge Amazon

GameStop announced a non-binding offer to buy eBay for about $55.5 billion at $125 per share, split 50/50 between cash and stock, financed with up to $20 billion in debt plus its $9.4 billion cash pile. The bid represents a 20% premium to eBay’s Friday close and 46% to its Feb. 4 level, and would require approvals from eBay’s board, regulators, and shareholders. If pursued, CEO Ryan Cohen would lead the combined company, with GameStop forecasting roughly $2 billion in annual cost cuts and using its 1,600 stores as infrastructure for eBay’s marketplace. EBay’s GMV has declined from its 2020 peak, complicating the deal; the stock rose in after-hours trading but remained below the offer, and a proxy fight could be on the table if needed.