Tech
GameStop Is Preparing Offer For eBay
GameStop is reportedly preparing a potential offer for eBay, an unusually ambitious move given that eBay’s roughly $46 billion market value is nearly four times GameStop’s. Reuters reports: GameStop is preparing an offer for eBay as CEO Ryan Cohen pursues plans to boost the struggling videogame retailer’s market value more than tenfold, the Wall Street Journal reported on Friday. Shares of eBay, which has a market capitalization of about $46 billion, soared about 14% in extended trading. GameStop gained 4%. The company has a market value of nearly $12 billion.
GameStop has been quietly building a stake in eBay’s shares ahead of a potential offer, the report said, citing people familiar with the matter. If eBay is not receptive, Cohen could decide to take the offer directly to the e-commerce company’s shareholders, the Journal said.
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