GameStop's $56B bid for eBay prompts funding questions and stock swings
TL;DR
GameStop unveiled a $56 billion cash-and-stock bid to acquire eBay, backed by a reported $20 billion debt financing letter from TD Bank and a 20% premium, but CEO Ryan Cohen dodged how the deal would be funded, saying 'the details are on our website' as investors pushed the stock lower while eBay rose on the proposal; GameStop already holds a ~5% stake in eBay and argues leverage and efficiency would drive value, though no talks with eBay have occurred and a hostile takeover remains a possibility.
- GameStop stock falls after company proposes $56 billion deal for eBay Yahoo Finance UK
- GameStop Offers to Buy eBay for $56 Billion WSJ
- GameStop’s ‘Highly Confident’ $20 Billion TD Letter Echoes Drexel Bloomberg.com
- GameStop stock sinks after surprise eBay takeover bid, Cohen's combative CNBC interview CNBC
- GameStop makes daring $56 billion bid for eBay, hoping to rival Amazon CNN
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