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Mergers & AcquisitionsMediumUpdated×3•Originally published 13 May 2026•Updated 13 May 2026•
1 min read

GameStop CEO Ryan Cohen Proposes $125 Per Share Acquisition of eBay

Key Facts

1GameStop CEO Ryan Cohen proposed acquiring eBay in a half-cash, half-stock deal valued at $125 per share.
2eBay rejected the offer as not credible, while Cohen plans to take the proposal directly to shareholders.

According to reports, GameStop CEO Ryan Cohen has proposed acquiring eBay in a deal valued at $125 per share, structured as a half-cash and half-stock transaction. eBay has reportedly rejected the offer, labeling it as not credible, which has prompted Cohen to consider taking the proposal directly to the company's shareholders. Cohen intends to leverage his e-commerce expertise to implement significant cost-cutting measures and operational improvements to boost eBay's profitability.

This move comes as major e-commerce players face intensifying competition, with eBay struggling to maintain its market share against giants like Amazon. Per market data on industry peers, such a massive strategic shift could reshape the sector's landscape, especially given Cohen's track record of transforming companies like Chewy. Analysts have noted in recent market commentary that the proposed premium reflects a high-stakes bet on unlocking hidden value within eBay's existing infrastructure.

Investors should closely watch market reactions to this potential hostile takeover bid, particularly with key economic catalysts approaching, such as the U.S. Initial Jobless Claims scheduled for May 7, 2026.

Latest Updates · 2

  1. Notable·

    Update: Ryan Cohen has clarified that the total valuation of his takeover proposal stands at $56 billion, while explicitly urging eBay's board to engage in substantive talks rather than dismissing the bid. Cohen asserted that shareholders deserve the opportunity to evaluate the proposal's merits, further intensifying the pressure on eBay's leadership to respond formally.

  2. Notable·

    Update: eBay clarified that its rejection of the $56 billion bid stems from concerns over a $20 billion debt financing component, which could jeopardize the company's investment-grade rating. The board also reaffirmed its support for the current turnaround strategy under CEO Jamie Iannone, expressing skepticism regarding the viability of the proposed combined entity.