Ryan Cohen’s GameStop, backed by a roughly $12 billion valuation, is exploring a bid to buy eBay, an online auction giant about four times its size. The company’s CEO acknowledged the plan may be “totally, totally foolish,” underscoring the high-stakes nature of a meme-stock driven push into e-commerce consolidation.
GameStop shares fell more than 10% after CEO Ryan Cohen sidestepped questions about how the company will fund its $55.5 billion bid for eBay. The proposed half-cash, half-stock offer still leaves a funding gap despite plans to use debt and cash. eBay has not engaged, and Cohen could push a proxy fight if needed.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
