GameStop is preparing a possible offer to acquire eBay, and no official bid had been submitted when the report was published. [1]
The Wall Street Journal said the company could make a buyout offer as soon as later in the month. It put GameStop's market value at about $11 billion and eBay's at about $45 billion as of Friday's close. [1]
The report said GameStop CEO Ryan Cohen could take the offer directly to eBay shareholders if eBay does not engage. It also said Cohen could receive $35 billion in stock if he meets certain targets, including lifting GameStop's market value to $100 billion. [1]
A potential eBay deal would fit Cohen's push to widen GameStop beyond video games and collectibles. GameStop tried to build a non-fungible token marketplace in 2022, then later said it would pivot toward retro gaming at select stores. [1]
The retailer has already cut its US store base by more than 400 locations earlier this year. The WSJ said the possible bid could come later this month. [1]