Ryan Cohen puts GameStop’s eBay pitch on the record
GameStop said its non-binding offer would value eBay at about $55 billion and split the consideration between cash and stock.
GameStop has confirmed a non-binding proposal to acquire eBay, putting a $55 billion deal on the table for one of the internet’s oldest marketplaces. In the company’s investor release, available here, GameStop said the offer values eBay at $125.00 per share in cash and stock.
The plan would amount to a full acquisition, with shareholders offered a mix of 50% cash and 50% GameStop stock and a pro-rated final split. GameStop also said Ryan Cohen would take on a dual CEO role across both companies, while his pay would depend solely on how the combined business performs.
GameStop said the bid comes in at 46% above eBay’s share price before it began buying stock in February 2026, and 36% above the company’s 90-day average. The company said the total deal value could reach about $55 billion, with as much as $9.4 billion coming from cash and liquid investments and up to $20 billion tied to financing.
The company is also pitching cost cuts. GameStop said it believes it could trim $2 billion a year from operating expenses, including as much as $1.2 billion from sales and marketing. It also said eBay could be folded into GameStop’s U.S. store network of 1,600 locations, while every store in the country would begin taking retro gaming hardware in trade.
The size gap between the two companies is hard to miss, and the proposal lands after GameStop’s recent interest in eBay had already drawn attention in GameStop is reportedly eyeing eBay, and the numbers are lopsided.
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