GameStop Corp. (GME) announced late Sunday that it has submitted a non-binding proposal to acquire eBay Inc. (EBAY) at $125.00 per share in cash and stock. The deal shows aggregate equity value of around $55.5 billion.
In Overnight trading, eBay shares were gaining around 12.3 percent, trading at $116.91, and GameStop is gaining 8.2%, at $28.71.
The proposed per share offer comprises 50 percent cash and 50 percent GameStop common stock, with full shareholder election rights as to consideration type and pro-rata allocation.
The offer represents a 46 percent premium to eBay's unaffected closing price on February 4, 2026, the day GameStop started accumulating its position in eBay. GameStop now holds a 5 percent economic stake in eBay through derivatives and beneficial ownership of common stock.
The company now said the deal value represents a 27 percent premium to the 30-day VWAP and a 36 percent premium to the 90-day VWAP.
The transaction is conditioned on customary closing conditions. Following close, GameStop's Ryan Cohen will serve as Chief Executive Officer of the combined company.
GameStop expects to deliver $2 billion of annualized cost reductions within twelve months of closing.
GameStop said it is filing a Schedule 13D and HSR notification on Monday.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.