Grapevine-based GameStop Corp. launched an unsolicited $56 billion bid Sunday to buy eBay Inc., the latest bold move by the North Texas video game retailer to expand its footprint in e-commerce.
GameStop submitted a non-binding proposal to acquire 100 percent of eBay at $125 per share in a 50-50 mix of cash and GameStop common stock. The deal values eBay at roughly $55.5 billion and represents a 20 percent premium to the company’s recent closing price and a 46 percent premium to its Feb. 4 closing price, the day GameStop began building its position. The company already owns about a 5 percent economic stake in eBay.
GameStop said it plans to fund the cash portion with roughly $9.4 billion in existing cash and liquid investments, plus up to $20 billion in debt financing backed by a highly confident letter from TD Securities. The company also pledged to deliver $2 billion in annualized cost savings within 12 months of closing, which it said would significantly boost eBay’s earnings per share.
GameStop Proposes to Acquire eBay at $125.00 Per Sharehttps://t.co/QYynT84H7Z
— GameStop (@gamestop) May 4, 2026
Under the proposal, GameStop’s approximately 1,600 U.S. retail stores would serve as a national network for eBay sellers to handle authentication, intake, fulfillment and live commerce opportunities. Ryan Cohen, GameStop’s chairman and chief executive officer since 2021, would lead the combined company.
The move comes as GameStop continues to evolve beyond traditional brick-and-mortar video game sales. Cohen has steered the company from a net loss in fiscal 2021 to net income in fiscal 2025 while slashing costs and strengthening its balance sheet.
eBay has not yet publicly responded to the proposal. GameStop said it is prepared to take its offer directly to eBay shareholders if necessary.
GameStop submitted a non-binding proposal to acquire 100 percent of eBay at $125 per share
GameStop submitted a non-binding proposal to acquire 100 percent of eBay at $125 per share
