Game Stop makes $55.5bn takeover offer for eBay
The cash and stock offer values eBay at $125 a share, $20 more than the company’s value when trading ended in New York on Friday.
GameStop’s chief executive, Ryan Cohen, said eBay could be much more successful under his leadership and even rival Amazon.
He also said he was prepared to take his bid directly to shareholders if eBay’s board rejected it. eBay said it will consider the proposal but analysts expressed doubts about the idea.
Morgan Stanley said the two companies had “fundamentally different” business models, while Bernstein pointed to GameStop’s smaller balance sheet, saying it would be “surprised if anything became of it.
GameStop makes $55.5bn takeover offer for eBay
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Osmond Chia,Business reporterandDaniel Thomas,Business reporter
Reuters/Nick Zieminski A GameStop store is seen in the Jackson Heights neighbourhood of Queens, New York CityReuters/Nick Zieminski
Video game retailer GameStop has made a surprise $55.5bn (£40.9bn) offer to buy e-commerce giant eBay.
The cash and stock offer values eBay at $125 a share, $20 more than the company’s value when trading ended in New York on Friday.
GameStop’s chief executive, Ryan Cohen, said eBay could be much more successful under his leadership and even rival Amazon.
He also said he was prepared to take his bid directly to shareholders if eBay’s board rejected it. eBay said it will consider the proposal but analysts expressed doubts about the idea.
Morgan Stanley said the two companies had “fundamentally different” business models, while Bernstein pointed to GameStop’s smaller balance sheet, saying it would be “surprised if anything became of it”.
GameStop rose to prominence during the Covid-19 pandemic when it became the centre of the so-called meme stock craze.
This saw retail investors buy up shares in unloved companies that professional investors had bet against, causing their share price to rise and fall sharply.
The chain still has around 1,600 outlets in the US and has seen something of a turnaround under Cohen.
Its net profit rose to $418.4m in 2025 – up from $131.3m the previous year – although sales fell.eBay, which is worth about four times more than GameStop, was launched in 1995 as a marketplace for hobbyists and became one of tech’s best-known brands.
But its user base has shrunk amid competition from the likes of Amazon. It currently has 136 million users worldwide, down from 175 million in 2018.
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