Ryan Cohen’s GameStop Presses On With eBay Bid
Synopsis
The video game retailer said it remains committed to its takeover proposal for eBay even after the unsolicited bid was rebuffed, while forecasting a sharp increase in adjusted earnings for fiscal 2026.
Key Highlights
- GameStop will continue with its $56 billion takeover bid for eBay.
- eBay’s board turned down the offer.
- GameStop sees more than $600 million in adjusted EBITDA for fiscal 2026.
GameStop plans to continue its efforts to acquire eBay after eBay rejected the offer, this time over an unsolicited cash-and-stock offer of approximately $56 billion by the videogame retailer. CEO Ryan Cohen disclosed the bid in May alongside a plan to grow GameStop and create a stronger rival to Amazon.
Takeover Plans Continue
Despite eBay’s rejection of the offer, GameStop said it continues to “pursue” that acquisition. The firm also anticipates adjusted earnings before interest, taxes, depreciation, and amortization of more than $ 600 million in fiscal 2026 from $345.4 million announced in fiscal 2025.
GameStop’s stock climbed more than 2% in after-hours trading following the announcement. The company announced earlier this week that Ryan Cohen would not receive a proposed performance award and said he is scheduled to expand on plans based on GameStop’s offer to buy eBay.
Source: Reuters
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