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FinanceGameStop pledges to pursue $56 bln takeover of eBay despite rejection
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On June 26, 2026, GameStop announced it will continue to pursue its unsolicited cash-and-stock takeover offer for eBay, valued at approximately $56 billion, despite eBay's rejection of the bid in May. The videogame retailer, led by CEO Ryan Cohen, argues that a combined entity would better compete with Amazon. GameStop stated in a regulatory filing that additional materials detailing the strategic rationale and operational plan for the merger will be released soon. The company also projected strong earnings for fiscal 2026, with adjusted EBITDA exceeding $600 million, compared to $345.4 million in fiscal 2025. This news boosted GameStop's stock price over 2% in after-hours trading. eBay has not yet commented on the latest development. The proposed acquisition would unite a company roughly five times GameStop's size.
Source report
By Svea Herbst-Bayliss and Jaspreet Singh 1 min read
Stock Tickers:
- GME: +3.57%
- EBAY: -0.12%
- WSFX.BO: -1.36%
- AMZN: +2.50%
GameStop reaffirmed on Friday its intent to pursue a proposed takeover of eBay, after the e-commerce firm rejected an unsolicited cash-and-stock offer valued at approximately $56 billion from the videogame retailer.
In a brief regulatory filing, GameStop also indicated that its earnings for the current year would be strong, which helped lift its stock price by more than 2% in after-hours trading.
Chief Executive Ryan Cohen surprised Wall Street in May with the bid to acquire eBay, arguing that a combined entity would better compete with Amazon. Cohen stated he would lead the merged company. eBay rejected the offer that same month.
While GameStop stated it remains committed to buying eBay — a company roughly five times its size — it did not provide further details on Friday regarding its rationale or next steps.
On Tuesday, GameStop said it would release additional materials this week concerning its plans for eBay, including a detailed presentation outlining the strategic rationale and operational plan for the combined company. On Friday, GameStop added that "additional materials regarding the proposed transaction are forthcoming."
An eBay spokesperson could not be immediately reached for comment.
GameStop also reported that it expects to generate adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of more than $600 million in fiscal 2026, compared to $345.4 million reported in fiscal 2025.
Reporting by Jaspreet Singh in Bengaluru and Svea Herbst-Bayliss in New York; Editing by Anil D'Silva and Matthew Lewis
Source
Yahoo FinanceWestern
Part of this Story
eBay Rejects GameStop's $56 Billion Unsolicited Takeover Bid