Proposed acquisition of eBay by GameStop
 | |
 | |
| Initiator | GameStop Corp. |
|---|---|
| Target | eBay Incorporated |
| Type | leveraged buyout |
| Cost | US$56 billion |
| Initiated | May 3, 2026 |
| Completed | TBA |
| Status | Pending approval from eBay, shareholders, and regulators |
The GameStop Corp. submitted a cash-and-stock leveraged offer for eBay on May 3, 2026, for $56 billion.[1] The potential buyout is valued at $125 per share with eBay shareholders receiving 50% cash and 50% GameStop common stock, representing a 20% premium.[2] GameStop, which has a market cap of $11.90 billion, is funding its deal through a $20 billion bridge loan from TD Bank.[3] GameStop's CEO, Ryan Cohen, has publicly stated he's prepared to engage in a proxy fight and take the offer directly to shareholders if eBay declines the acquisition. As of May 4, 2026, eBay has not issued a public response.
Background timeline
Ryan Cohen has been serving as CEO of GameStop since January 2021, shortly after the speculative short squeeze of the company's stock. During an interview with the Wall Street Journal in January 2026, Cohen suggested that he was seeking a big deal to scale GameStop beyond its core gaming business. Over the next several weeks, GameStop closed dozens of underperforming locations and later purchased a 5% stake in eBay on February 4, 2026. In the days leading up to GameStop's public announcement of its proposed buyout of eBay, media outlets began suggesting the company was actively seeking eBay.
Approval period
The potential transaction may require direct approval from the following countries:
| Country | Comission | Status |
|---|---|---|
 United States |
Federal Trade Commission and Department of Justice | Pending |
.svg.png){kind=small} Canada |
Financial Consumer Agency of Canada | |
 European Union |
European Commission | |
.svg.png){kind=small} United Kingdom |
Competition and Markets Authority | |
 New Zealand |
Commerce Commission |
References
- ↑ Thomas, Lauren (May 3, 2026). "GameStop Offers to Buy eBay for $56 Billion". The Wall Street Journal. Archived from the original on May 3, 2026. Retrieved May 3, 2026.
- ↑ Whelan, Robbie (May 2, 2026). "Why eBay, in Its Latest Incarnation, Is a Takeover Target for GameStop". The Wall Street Journal. Archived from the original on May 4, 2026. Retrieved May 4, 2026.
- ↑ Bao, Anniek (May 4, 2026). "Meme stock GameStop makes $56 billion offer for eBay in bid to rival Amazon". CNBC. Archived from the original on May 4, 2026. Retrieved May 4, 2026.
