GameStop launches a $56 billion bid for eBay
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GameStop has announced it has made a $55.5 billion offer to buy eBay at $125.00 per share in cash and stock. CEO Ryan Cohen, who would become CEO of the combined company should the deal go through, told The Wall Street Journal he wants to make eBay a “legit competitor to Amazon,
GameStop’s surprise offer is a bold one, promising greater efficiency that hopes to challenge Amazon.
Wait, GameStop is doing what?
GameStop yesterday made an unsolicited offer to buy eBay for $55.5 billion. GameStop claims that eBay has underperformed and spends too much on sales and marketing and argues that it would become a stronger company if it cuts costs and is combined with GameStop’s physical retail locations.