GameStop offers to buy eBay for $55.5 billion, threatens hostile bid
Summary
GameStop has offered to buy eBay for $55.5 billion by paying $125 per share in cash and stock. GameStop’s CEO said they might try a hostile takeover if eBay rejects the offer.Key Facts
- GameStop wants to buy eBay for $55.5 billion.
- The offer is $125 per share, paid in cash and stock.
- GameStop already owns 5% of eBay shares.
- GameStop CEO Ryan Cohen said TD Securities will provide $20 billion to fund the deal.
- eBay said it will review the offer carefully to protect its shareholders’ interests.
- If eBay rejects the offer, GameStop may launch a hostile takeover bid.
- GameStop’s market value is about $12 billion, smaller than eBay’s $49 billion valuation.
- After the news, GameStop’s stock price fell 2%, while eBay’s stock price rose 5%.
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