GameStop makes $56 billion offer to acquire eBay

Source: The Verge

Offer Overview

GameStop has made an offer to acquire eBay for $56 billion, as part of CEO Ryan Cohen’s plan to transform the online marketplace into a “legit competitor to Amazon,” he told The Wall Street Journal. In an announcement on Monday, eBay said it will “carefully review” the unsolicited proposal, adding that it had “no discussions with or outreach from GameStop” before receiving the bid.

Funding

GameStop says it will fund the acquisition using $9.4 billion from the company’s balance sheet and third‑party financing, including up to $20 billion from TD Securities. The WSJ noted that the company did not disclose how it will fund the remaining amount.

Read the full story at The Verge.