GameStop is preparing to make an offer for eBay and has been quietly building a stake in the company’s shares ahead of a potential takeover bid, The Wall Street Journal reports, sending eBay stock sharply higher in after‑hours trading.
Sources cited by the Journal say the video game retailer could submit a formal offer for eBay as soon as later this month, as part of CEO Ryan Cohen’s push to radically increase GameStop’s market value. GameStop, valued at around 12 billion dollars, would be attempting to swallow a much larger target in eBay, which has a market capitalization of roughly 46 billion dollars.
News of the potential bid has already jolted markets, with eBay shares jumping about 10 percent in after‑hours trading and GameStop stock also rising on investor speculation about the tie‑up. The report stresses that no deal is guaranteed, and if eBay’s board is not receptive, Cohen could decide to walk away rather than pursue a hostile takeover.
