Public Event Detail
EBay pops 6% as GameStop’s Ryan Cohen makes unsolicited $56B offer to buy company
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Event summary
Shares of eBay surged 6% after GameStop CEO Ryan Cohen made an unsolicited $56 billion bid to acquire the company, claiming he could turn it into a "hundreds of billions of dollars" business and a "legit competitor to Amazon." The offer of $125 per share (cash and stock) represents a 20% premium over eBay's Friday closing price, and GameStop has secured $20 billion in debt financing. However, Wall Street analysts are skeptical of the deal, citing GameStop's smaller market cap and eBay's ongoing successful turnaround.