GameStop owns nearly 10% of eBay, SEC filing shows
GameStop disclosed in an SEC filing that it now owns 43.4 million shares of eBay, representing a 9.8% stake, up from a 5% economic stake in early May. The videogame retailer's CEO, Ryan Cohen, had previously made an unsolicited $56 billion cash-and-stock offer to buy eBay, which was rejected as 'neither credible nor attractive.' Cohen has since converted derivatives into common shares, including settling 39 million eBay shares from put/call pairs. He stated in a Bloomberg interview, 'We're coming for eBay one way or another,' and has committed $500 million of his own money to the deal. GameStop shareholders approved increasing authorized shares to provide more flexibility. Wall Street has questioned the financing plan, which relies on a non-binding $20 billion debt commitment from TD Securities contingent on an investment-grade credit rating. Cohen declined to raise his offer, saying he would not 'negotiate against myself.'
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection