
GameStop Makes $56 Billion Unsolicited Bid for eBay in Bid to Build Amazon Rival
Ryan Cohen just handed Wall Street the most audacious corporate proposal of 2026. GameStop, the video game retailer that became a cultural flashpoint during the meme stock frenzy of 2021, has submitted an unsolicited, non-binding proposal to acquire eBay for $125 per share in a cash-and-stock deal valued at approximately $55.5 billion. The offer, announced Sunday evening, sent eBay shares surging nearly 12% in after-hours trading and touched off a firestorm of reactions across trading floors and financial news desks from Wall Street to Silicon Valley. The move represents a tectonic shift in ambition for a company that, not long ago, was written off as a relic of brick-and-mortar retail clinging to relevance in a digital-first world. The Offer on the Table The offer is structured as half cash and half GameStop stock, representing a 46% premium to eBay’s closing share price on February 4 — the day GameStop began quietly building a 5% stake in the company. It also represents a 20% premium to eBay’s Friday close of $104.07. Financing for the transaction would come from two sources: a roughly $9.4 billion cash reserve GameStop held as of January 31, 2026, and up to $20 billion in debt backed













































