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Will GameStop Ever Actually Buy eBay? Inside Ryan Cohen’s $56 Billion Takeover Bid and What Comes Next

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The eBay app is seen on a smartphone in this illustration taken

GameStop’s pursuit of eBay has stretched into its third month, and the video game retailer shows no sign of walking away, even as the e-commerce giant continues to reject its advances. The saga, one of the more unusual corporate takeover attempts in recent memory, has left investors and analysts split on whether a deal will ever materialize.

How the bid began

GameStop Chief Executive Ryan Cohen submitted a non-binding proposal to eBay’s board on May 3, offering $125 per share in a cash-and-stock deal that valued the online marketplace at roughly $55.5 billion. The offer represented a 46% premium to eBay’s closing price on February 4, the day GameStop began quietly building its stake in the company. GameStop disclosed it had accumulated a 5% economic interest in eBay through a combination of derivatives and direct stock ownership ahead of making the offer public.

The proposed structure called for the deal to be split evenly between cash and GameStop common stock, with eBay shareholders given the ability to choose which form of consideration they wanted to receive. Cohen pointed to GameStop’s roughly $9.4 billion in cash reserves and said he had secured a commitment letter from TD Securities for up to $20 billion in additional debt financing.

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eBay says no

eBay’s board rejected the proposal on May 12, calling it “neither credible nor attractive” in a letter signed by board chairman Paul Pressler. The company cited its ongoing turnaround under CEO Jamie Iannone, which has focused on higher-margin categories such as trading cards, collectibles and pre-owned luxury goods, as evidence that eBay was better positioned as a standalone business. eBay noted that its shares were up sharply for the year and said it had “delivered meaningful results” through its current strategy.

The size mismatch between the two companies drew immediate skepticism from Wall Street. At the time of the offer, GameStop’s market value stood at roughly $10 billion to $12 billion, while eBay’s was closer to $46 billion to $48 billion — meaning GameStop was proposing to buy a company roughly four times its own size using a mix of borrowed money and its own stock.

GameStop keeps buying, keeps pushing

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Rather than retreat after the rejection, GameStop has steadily increased its position in eBay. A regulatory filing showed the company’s stake had grown to nearly 10% by mid-July, after GameStop purchased millions of additional shares in June and converted options covering 39 million more shares into common stock. In a filing this month, GameStop reiterated its commitment to pursuing the deal, even as it declined to say how it planned to move the transaction forward.

Cohen has also made changes at GameStop that observers have linked to the eBay push. In June, the company’s board withdrew a proposed executive compensation package for Cohen that could have paid him as much as $35 billion in stock if he hit certain performance targets, with the company citing his focus on the eBay effort. The withdrawal came shortly after a shareholder filed a proposed class-action lawsuit seeking to block a vote on the pay package, which GameStop has said it intends to fight.

Cohen holds his ground publicly

In a Bloomberg Television interview on July 16, Cohen declined to say whether he would raise his offer, but made clear he has not given up. “We’re coming for eBay one way or another,” he said. Pressed further on his strategy, Cohen added, “I’m not going to negotiate against myself,” signaling he has no intention of bidding against his own initial offer without a response from eBay’s board. Cohen also described his broader ambitions for a combined company, saying he envisions building it into a business worth $1 trillion by tying GameStop’s collectibles business to eBay’s marketplace reach.

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Why analysts remain doubtful

Despite Cohen’s public confidence, most analysts covering the situation continue to question whether GameStop can realistically complete a deal of this size. Brian Quinn, a professor at Boston College Law School, said the offer amounted to little more than a distraction for eBay’s board, arguing that without a substantial cash commitment, the proposal was “only a promise of a ride on the meme-coaster.” Eden Chen, chief executive of gaming software company FirstLook, framed the core problem more simply, asking, “How does a $10 billion company take over a $50 billion company?”

The financing structure remains a central sticking point. GameStop’s offer relies heavily on issuing its own stock as partial payment, a structure that ties the deal’s value directly to GameStop’s often-volatile share price — a risk eBay’s board specifically flagged in its rejection letter, along with questions about how the combined company would be led and how Cohen’s compensation would be structured.

GameStop has signaled it may eventually take its case directly to eBay shareholders rather than continuing to negotiate solely with the company’s board, a move that would escalate the standoff into a more public campaign. Whether that translates into a formal tender offer, a proxy fight, or simply continued share accumulation remains unclear. For now, eBay’s board has shown no indication it plans to reconsider, while GameStop has shown no indication it plans to stop buying shares or making its intentions known.

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Investors in both companies are left watching a takeover attempt that defies typical patterns: an unsolicited, partly stock-financed bid from a smaller company for one nearly five times its size, sustained months after being publicly and firmly rejected. Whether persistence alone can eventually change eBay’s calculus — or whether GameStop’s campaign fades the way many rejected takeover bids do — is likely to become clearer in the months ahead as GameStop continues building its stake and eBay continues executing its own turnaround plan.

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Maine Democrats nominate Troy Jackson to replace Platner in US Senate race

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LSEG’s Lipper reviews transaction affecting fixed-income fund flow data

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Lionel Messi’s Wife Defends Argentina on Social Media Amid Fierce Backlash After World Cup Final Loss

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Cristiano Ronaldo Portugal

Lionel Messi’s wife, Antonela Roccuzzo, publicly defended Argentina’s national team this week amid a wave of criticism following the country’s 1-0 loss to Spain in the 2026 World Cup final, as commentators, fellow players and Argentina’s own president weighed in on the fallout from a contentious final.

Roccuzzo reposted a message from writer and media figure Connie Ansaldi on Instagram, marking one of the more direct public responses from within Messi’s inner circle to the criticism that followed the final. “Proud to be Argentine. Argentina is exactly like a family; we may disagree and quarrel amongst ourselves, but if someone from outside comes and insults us, we will tear out their liver,” the reposted message read.

Where the criticism came from

Sunday’s final, decided by a Ferran Torres goal in extra time, drew sharp criticism both for Argentina’s on-field performance and for the team’s conduct following the match, including an on-pitch altercation involving several players. Former England defender Gary Neville was among the most pointed critics of Argentina’s performance, saying on his show “The Overlap,” “They played like a bag of s***. Sometimes, if it looks like s*** and it smells like s***, it is s***. What we watched was a performance that was really poor.”

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British commentator Piers Morgan separately branded Argentina’s conduct following the final a “disgrace,” describing their actions as “disgusting,” while German World Cup winner Toni Kroos offered a more measured take, saying simply that “football won” following the result.

Argentina’s president weighs in

The criticism extended beyond football commentary into national politics, with Argentine President Javier Milei taking to social media to defend the country following the loss. “The problem with Argentina is that we stand out. We don’t go unnoticed, people are jealous of us, and we’re good at almost everything. I’m sorry, but someone had to say it,” Milei wrote on Instagram.

A tribute to her husband

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Beyond her defense of the broader national team, Roccuzzo also shared an emotional personal tribute to Messi directly following the loss, posting images of the visibly emotional forward on the field after the final whistle. “You will always be the best, @leomessi. Not just because of your talent, but because you have never stopped being yourself,” she wrote. “Because no matter what happens, you never give up; you always fight to the very end and give your all until the final second. That strength, that mindset, and the way you pick yourself up time and time again are what make you unique.”

Roccuzzo continued the message with a broader reflection on what her husband represents beyond the sport itself. “Thank you for showing us every day that true success is built through hard work, sacrifice, and perseverance, without ever losing sight of who you really are. You are the best example for our children and an inspiration to millions of people. I admire you more than words can express, and I feel immensely proud to walk through life by your side. I love you so much.”

A pattern of public support throughout the tournament

Roccuzzo’s tribute following the final continued a pattern of public messages of support she offered throughout Argentina’s World Cup run. Following the team’s dramatic Round of 16 comeback victory over Egypt, a match marked by its own VAR controversy, Roccuzzo posted photos of herself and the couple’s three sons at the stadium, writing “Let’s go Argentina” in Spanish, followed by a brief message directed at Messi: “@leomessi no more words left.” Earlier in the tournament, after Messi scored his 18th career World Cup goal, Roccuzzo wrote, “What a privilege to see you make history again and again.”

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Messi’s own reaction to the loss

Messi has largely kept his own public comments about the final brief, expressing deep disappointment over the result while also extending congratulations to Spain. He has not publicly commented on the surrounding criticism of the team’s conduct or offered any indication about whether the 2026 tournament marked his final World Cup appearance, a question that has continued to generate speculation given his age and the physical toll of a lengthy international career spanning six World Cup tournaments.

A well-established partnership

Messi and Roccuzzo, who have known each other since childhood in their hometown of Rosario, Argentina, married in 2017 and share three sons: Thiago, Mateo and Ciro. Roccuzzo has remained a consistent, visible presence throughout Messi’s international career, frequently attending matches with their children and posting messages of support across his major tournament appearances, including Argentina’s 2022 World Cup title run in Qatar.

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A broader wave of reaction

Sunday’s final and its aftermath generated a broad range of reactions beyond Roccuzzo’s response, spanning football commentary, political statements and continued debate over specific refereeing and conduct issues during the match itself. That range of reaction reflects both the significance of the result, Argentina’s bid to become back-to-back champions falling just short, and the intensity of scrutiny that has followed the Argentine team throughout the tournament, dating back to earlier controversies during the group and knockout stages.

With the tournament now concluded and questions still swirling about Messi’s international future, attention is likely to remain focused on whether he chooses to continue playing for Argentina heading into future competitions, or whether Sunday’s final marked the close of his World Cup career. In the meantime, Roccuzzo’s public defense of both her husband and the broader national team reflects a family that has consistently presented a united front throughout Messi’s decorated, if occasionally contentious, run on international football’s biggest stage.

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Intel Stock: Q2 AI Has Revived CPU Franchise, Foundry Not Earned Valuation (NASDAQ:INTC)

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Intel Stock: Q2 AI Has Revived CPU Franchise, Foundry Not Earned Valuation (NASDAQ:INTC)

This article was written by

The author is a director at a small Boston-based software company where he oversees India operations across HR, finance, and business development. His broader professional background spans entrepreneurship, operations, and management across multiple industries. Earlier in his career, he was involved in building out a bottled beverages plant, reflecting a longstanding interest in business building, execution, and commercial strategy. He also holds a PhD in history and teaches part-time at a local college, bringing a research-driven and analytical perspective to both his professional and investing workHe has been investing in U.S. equities for nearly two decades, having started well before international access to U.S. markets became commonplace for Indian investors. Over time, he has developed a style that sits between value and growth. He is most interested in businesses where long-term earnings potential, competitive positioning, or strategic optionality are not yet fully reflected in the stock price. His work is grounded in valuation, but he also looks closely at business quality, management execution, industry structure, and the durability of growth.His primary sector focus is software, IT, and AI, including the growing application of AI across industries such as healthcare. He is especially interested in companies with scalable models, improving economics, and the ability to compound earnings over time. At the same time, his interests are not limited to technology. He also follows real estate-related opportunities, including REITs, and remains open to writing on other sectors where the investment case is compelling.On Seeking Alpha, he aims to write thoughtful, research-based articles that combine business analysis with valuation discipline. His goal is not simply to identify attractive stories but to assess whether the market is mispricing risk, growth, or long-term earnings power. He writes to share well-reasoned ideas with serious investors, refine his own thinking through public analysis, and contribute to a more disciplined discussion around investing. The author is associated with another Seeking Alpha analyst – Dr. Manimala M.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Only Four Countries Now Host Trillion-Dollar Companies in 2026 as AI Boom Reshapes Global Wealth Map

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Artificial Intelligence / AI

A small and increasingly exclusive club of nations is now home to the world’s most valuable public companies, as a historic run in artificial intelligence spending pushes corporate valuations to levels once considered unthinkable.

As of late July 2026, roughly a dozen publicly traded companies carry market capitalizations above $1 trillion, and only four countries can claim to host them: the United States, Taiwan, South Korea and Saudi Arabia. The lineup reflects a global economy increasingly organized around semiconductors, cloud computing and the artificial intelligence infrastructure race, with chipmakers and technology platforms crowding out nearly every other industry from the top of the rankings.

The United States still dominates

America remains the undisputed center of the trillion-dollar economy. Nvidia, the AI chip designer, has emerged as the world’s single most valuable company, with a market capitalization exceeding $5 trillion. The Santa Clara, California-based firm’s graphics processing units have become the backbone of AI data centers worldwide, and its rise has been one of the fastest wealth creation stories in stock market history. Nvidia crossed the $1 trillion threshold in 2023 and the $4 trillion mark just two years later, in July 2025, before continuing its climb this year.

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Apple and Alphabet, Google’s parent company, both sit above $4 trillion, while Microsoft and Amazon remain comfortably in the trillions as well. Rounding out the American contingent are Broadcom, Meta Platforms, Tesla, drugmaker Eli Lilly, memory-chip manufacturer Micron Technology, and Warren Buffett’s Berkshire Hathaway — the lone non-technology name on the list and the only company built primarily on insurance and diversified holdings rather than software or silicon.

That gives the United States roughly 11 companies above the trillion-dollar line, by far the largest concentration in the world. Analysts tracking global market capitalization say American firms account for the overwhelming majority of value among the world’s top 50 and top 100 public companies, a dominance built on decades of tech-sector leadership that has only accelerated since the generative AI boom began in 2023.

Taiwan’s chip giant joins the ranks

Taiwan Semiconductor Manufacturing Company, commonly known as TSMC, has become Asia’s first trillion-dollar company and remains the most valuable business based outside the United States, with a market capitalization above $2 trillion. TSMC manufactures advanced chips for Nvidia, Apple and nearly every other major technology company, making it one of the most systemically important firms in the global electronics supply chain. Its dominance in cutting-edge chip fabrication has made Taiwan a focal point of both the AI investment boom and broader geopolitical tension over semiconductor supply chains.

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South Korea enters the club — twice

South Korea has become the newest entrant to the trillion-dollar tier, and it arrived with two companies rather than one. Samsung Electronics crossed the $1 trillion threshold for the first time this year, becoming just the second Asian company to do so after TSMC. The milestone came amid a sharp rally in chip stocks tied to surging demand for high-bandwidth memory used in AI servers, with Samsung shares jumping more than 15% in a single session in May after the company reported an eightfold increase in quarterly operating profit.

SK Hynix, Samsung’s domestic rival in memory chips, also joined the trillion-dollar tier this year. The combined value of the two South Korean chipmakers has, at times, surpassed the combined market capitalization of China’s two largest internet companies, Alibaba and Tencent, according to data reported by Bloomberg in February — a shift that underscored how the AI-driven memory chip boom has reordered valuations across Asian technology markets. The rally has also helped push South Korea’s benchmark Kospi index above 7,000 points for the first time.

Saudi Arabia’s oil giant remains the outlier

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Saudi Aramco, the state-controlled oil producer, continues to hold its position as the world’s most valuable non-U.S., non-technology company, with a market capitalization near $1.7 trillion. Aramco went public on the Saudi Exchange in December 2019 in what remains the largest initial public offering in history, and it remains the only trillion-dollar company built primarily around fossil fuel production rather than software, chips or consumer technology. The Saudi government owns roughly 90% of the company, with the country’s sovereign wealth fund holding a significant additional stake.

A narrower club than before

The current four-country lineup is notably narrower than it was just a few years ago, when Chinese internet giants such as Alibaba and Tencent regularly featured among the world’s most valuable companies. Their retreat from the trillion-dollar tier reflects a broader shift in investor enthusiasm away from Chinese consumer internet platforms and toward the chipmakers and cloud infrastructure providers powering the AI buildout in the U.S., Taiwan and South Korea.

Market analysts note that membership in the trillion-dollar club is fluid. Companies can drop below the threshold during downturns and climb back above it as investor sentiment shifts, meaning the list of countries represented could expand or contract in the months ahead. Walmart, for instance, has approached the trillion-dollar threshold from below in recent months, and further gains in retail or other sectors could eventually add a wider range of industries — and potentially additional countries — to the list.

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For now, though, the story of the trillion-dollar economy remains a story about semiconductors and artificial intelligence. Nine of the roughly dozen companies above the threshold are directly tied to AI chips, cloud computing or the software platforms built on top of them. The exceptions — Berkshire Hathaway, Eli Lilly and Saudi Aramco — stand as reminders that insurance, pharmaceuticals and energy can still produce world-beating valuations, even in a market increasingly defined by silicon.

With earnings season underway across major exchanges, investors are watching closely for signs of whether the AI-fueled rally that has lifted Nvidia, TSMC, Samsung and their peers can be sustained, or whether the trillion-dollar club will see further reshuffling before the year is out.

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US aimed to send envoys to Brazil to question its electoral system – sources

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TPG Stock: 5%-Yielding Growth Stock In Plain Sight (NASDAQ:TPG)

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TPG Stock: 5%-Yielding Growth Stock In Plain Sight (NASDAQ:TPG)

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I am Gen Alpha. I have more than 14 years of investment experience, and an MBA in Finance. I focus on stocks that are more defensive in nature, with a medium- to long-term horizon. I provide high-yield, dividend growth investment ideas in the investing group iREIT®+HOYA Capital. The group helps investors achieve dependable monthly income, portfolio diversification, and inflation hedging. It provides investment research on REITs, ETFs, closed-end funds, preferreds, and dividend champions across asset classes. It offers income-focused portfolios targeting dividend yields up to 10%. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of TPG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am not an investment advisor. This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Bank of America: A Welcome Dividend Increase (NYSE:BAC)

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Bank of America: A Welcome Dividend Increase (NYSE:BAC)

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The Investment Doctor is a financial writer, highlighting European small-caps with a 5-7 year investment horizon. He strongly believes a portfolio should consist of a mixture of dividend and growth stocks.
He is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable research on appealing Europe-focused investment opportunities not found elsewhere. The a focus is on high-quality ideas in the small-cap space, with emphasis on capital gains and dividend income for continuous cash flow. Features include: two model portfolios – the European Small Cap Ideas portfolio and the European REIT Portfolio, weekly updates, educational content to learn more about the European investing opportunities, and an active chat room to discuss the latest developments of the portfolio holdings. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BAC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I also have a long position in BAC.PR.B and BAC.PR.L

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Diesel prices spike amid Iran war, raising cost of groceries, new homes

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Diesel prices spike amid Iran war, raising cost of groceries, new homes

The fuel most Americans never think about could become the Iran conflict’s biggest economic consequence. While gasoline prices grab headlines, diesel quietly powers the trucks, farms, freight trains and heavy equipment that keep the U.S. economy moving.

From the groceries on supermarket shelves to the Amazon package on your doorstep and the materials used to build new homes, diesel is embedded in nearly every step of the supply chain. As prices rise, businesses face higher transportation costs that economists say often ripple through the economy, pushing up the cost of everyday goods.

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Diesel prices, which averaged $3.56 a gallon in January 2025, have climbed to $5.13 following the Iran conflict, according to the U.S. Energy Information Administration.

A fully loaded semi-truck typically gets just 6 to 7 miles per gallon of diesel, according to Department of Energy data. Filling its roughly 250-gallon tanks can cost more than $1,280 at today’s prices.

BBQ LOVERS BEWARE: MIDDLE EAST CONFLICT MIGHT DISRUPT YOUR SUMMER PLANS THIS YEAR

“We all focus on gasoline because, ultimately, we’re consumers and pump prices are very visible. But what we don’t think about is the price of diesel, which is the workhorse fuel for the U.S. economy and especially for key sectors,” Bernard Yaros, lead U.S. economist for Oxford Economics, told Fox News Digital.

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“From an inflationary perspective, I’m very concerned about the recent rise in diesel prices as it pertains to the cost of food or grocery store prices,” Yaros said.

“Take the food industry, for instance. Diesel powers the irrigation pumps, the tractors in the field and the trucks that bring food from the farm to your local grocery store. It’s part of every layer of food production in the U.S.”

‘KEEP A LOW PROFILE’: STATE DEPARTMENT WARNS AMERICANS OVERSEAS THEY COULD BE TARGETED

A person is seen grabbing the nozzle for diesel fuel at a gas station.

A person is seen grabbing the nozzle for diesel fuel at a gas station. (Rebecca Noble/Bloomberg/Getty Images / Getty Images)

An energy industry source, who requested anonymity because they were not authorized to speak publicly, said the recent diesel surge shows how geopolitical conflicts can quickly filter into the broader economy.

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“The great majority of the price movement that you’ve seen in diesel markets over the last five months has been the direct result of the conflict in Iran and specifically the closure of the Strait of Hormuz,” the source told Fox News Digital.

The Strait of Hormuz, a narrow waterway between Iran, Oman and the United Arab Emirates, is one of the world’s most important energy chokepoints. Roughly 20 million barrels of oil pass through it each day, and disruptions can quickly tighten fuel supplies and drive diesel prices higher.

WHY THE STRAIT OF HORMUZ MATTERS AS TRUMP ISSUES FRESH ULTIMATUM TO IRAN

map of strait of hormuz

A satellite image shows the Strait of Hormuz, a key maritime passage connecting the Persian Gulf to the Gulf of Oman, vital for global energy supply. (Amanda Macias/Fox News Digital / Getty Images)

Even if tensions in the Middle East ease, diesel prices may not quickly return to pre-conflict levels.

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“Refineries don’t process crude instantaneously,” the source said. “A lot of times what you’re filling up your car with today was refined a week and a half ago and was produced two months before that.”

That lag means higher diesel costs can continue working their way through the economy even after crude oil prices stabilize, leaving consumers to pay more for groceries, deliveries and other everyday goods long after the headlines from the Middle East begin to fade.

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Rotate to China: BCA tips 3-month reversion trade away from South Korea stocks

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