GameStop launches $55.5 billion hostile takeover bid for eBay

GameStop Corp. has launched a non-binding hostile takeover bid for eBay Inc., valuing the e-commerce platform at approximately $55.5 billion. The proposal, submitted on May 3, 2026, offers $125 per share in a combination of 50% cash and 50% GameStop stock. This represents a 46% premium over eBay's share price as of early February 2026.

To fund the acquisition, GameStop intends to utilize $9.4 billion in cash reserves and up to $20 billion in acquisition financing, supported by a confidence letter from TD Securities. GameStop CEO Ryan Cohen, who would lead the combined entity, stated the move aims to build a credible competitor to Amazon, projecting $2 billion in annualized cost synergies within the first year.

In separate recent activity, GameStop CEO Ryan Cohen has significantly increased his personal stake in the company through substantial insider purchases. On September 21, Cohen acquired 1,150,680 shares at an average price of $22.94, totaling approximately $26.4 million. This follows a prior purchase of 1,000,000 shares on September 10. Following these transactions, Cohen directly owns over 40 million shares, valued at approximately $929 million.