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GameStop readies $45B eBay takeover bid

5/3/2026

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Summary

GameStop Targets eBay

GameStop Corp., led by CEO Ryan Cohen, is preparing a takeover bid for eBay Inc. that could be submitted later this month.
GameStop reported $9 billion in cash, cash equivalents and marketable securities at the end of March.
eBay’s market capitalization is roughly $45 billion.
After the Wall Street Journal report, GameStop shares rose about 5% in after-hours trading.
eBay shares jumped roughly 14% in the same session.

Summary

GameStop Faces Doubt

M&A professor Paul Nary labeled the rumored GameStop-eBay bid “speculative momentum” and added it to his skepticism file.
CNBC’s Fast Money hosts said they could not reconcile the reported offer with the companies’ fundamentals.
An eBay spokesperson warned that “just because someone can make an offer doesn’t mean it will be accepted.”
Both GameStop and eBay declined to comment on the speculation when asked.

History

Historical Context

eBay’s 2002 purchase of PayPal for $1.5 billion, driven by CEO Meg Whitman, turned the auction site into a payments platform and later led to PayPal’s 2015 spin-off. Founded in 1995, eBay now processes $73 billion in annual transactions. That landmark precedent fuels scrutiny of the latest bid to acquire eBay, echoing past market-shaping deals.

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GameStop Targets eBay

GameStop Corp., led by CEO Ryan Cohen, is preparing a takeover bid for eBay Inc. that could be submitted later this month.
GameStop reported $9 billion in cash, cash equivalents and marketable securities at the end of March.
eBay’s market capitalization is roughly $45 billion.
After the Wall Street Journal report, GameStop shares rose about 5% in after-hours trading.
eBay shares jumped roughly 14% in the same session.

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