GameStop is preparing to make an offer for eBay, according to the Wall Street Journal, part of CEO Ryan Cohen's plan to build the company into what the Journal calls "a $100 billion-plus juggernaut."
GameStop has been quietly building a stake in eBay ahead of a potential offer, which could come later this month. If eBay isn't receptive, Cohen could take the offer directly to shareholders.
The size gap is notable. GameStop's market cap is around $12 billion. eBay's is roughly $46 billion. GameStop is sitting on about $9 billion in cash and $368 million in bitcoin, but how it would finance a deal nearly four times its size is unclear.
GameStop shares rose about 7% after hours. eBay jumped 12%.
GameStop has been quietly building a stake in eBay ahead of a potential offer, which could come later this month. If eBay isn't receptive, Cohen could take the offer directly to shareholders.
The size gap is notable. GameStop's market cap is around $12 billion. eBay's is roughly $46 billion. GameStop is sitting on about $9 billion in cash and $368 million in bitcoin, but how it would finance a deal nearly four times its size is unclear.
GameStop shares rose about 7% after hours. eBay jumped 12%.
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