ChainThink reports that GameStop CEO Ryan Cohen is planning to make a takeover offer to eBay, a $45 billion e-commerce platform, aiming to transform it into a retail giant with a market capitalization exceeding $100 billion, compared to GameStop’s current market cap of approximately $11 billion.
A source familiar with the matter revealed that GameStop has quietly increased its stake in eBay and may file a tender offer as early as later this month; if the eBay board rejects it, Cohen may launch a direct tender offer to eBay shareholders.
According to market data, after the news broke, eBay's stock surged over 10% in after-hours trading in the U.S., while GameStop rose approximately 5% simultaneously.
Early this year, Cohen explicitly stated that he is seeking major acquisition targets in the consumer and retail sectors to expand the company’s business beyond video games and collectibles.
As of the end of March, GameStop held approximately $9 billion in cash, a significant increase from $4.8 billion at the same time last year, providing funding for this acquisition.
eBay's stock has risen over 50% over the past 12 months, and in February of this year, it acquired the secondhand fashion platform Depop for $1.2 billion.
GameStop investors and The Big Short原型 Michael Burry has publicly urged the company to use its cash reserves for transformative acquisitions.
Since joining the board in 2021 and ascending to chairman, Cohen has garnered a large following with his pledge to turn the company around and is expected to leverage his online fan base to promote this transaction;
Its compensation plan shows that individuals could receive up to $35 billion in stock rewards if conditions such as driving the company's market capitalization to $100 billion are met.