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GameStop CEO Ryan Cohen Plans Bid for eBay Valued at About $56 Billion

According to The Wall Street Journal, GameStop plans a cash-and-stock bid for eBay at $125 per share, though analysts say the roughly $56 billion deal appears unlikely because of dilution and execution concerns.

Fact Check
The claim is directly and fully confirmed by the primary source: the Wall Street Journal article 'GameStop Is Offering to Buy eBay For $56 Billion, CEO Ryan Cohen Says' (published May 3, 2026), which states GameStop offered $125 per share in cash and stock. Bloomberg independently corroborated the story on May 1, 2026, reporting eBay shares surged 15%+ in after-hours trading. Investor's Business Daily and multiple X posts also cite the WSJ report. All evidence is consistent and mutually reinforcing. The only minor nuance is that the claim omits the total deal size ($56 billion) and the cash-and-stock nature of the offer, but the $125-per-share figure and WSJ attribution are precisely accurate.
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Summary

According to The Wall Street Journal, GameStop CEO Ryan Cohen plans to acquire eBay in a proposed cash-and-stock transaction valued at about $56 billion, or $125 per share. The source says GameStop already owns about 5% of eBay and has secured a $20 billion debt financing commitment from TD Bank to support the bid. The proposed acquisition would mark a major expansion beyond GameStop’s traditional video game retail business into a much larger e-commerce platform. Analysts cited in the report said the deal appears unlikely to proceed, pointing to dilution and execution risk. No response from eBay is provided, and no further timeline or regulatory details are disclosed in the source material.

Terms & Concepts
  • Cash-and-stock deal: An acquisition structure in which the buyer pays with a combination of cash and its own shares instead of cash alone.
  • Debt financing: Borrowed capital used to fund a transaction, typically repaid over time with interest under agreed lending terms.
  • Dilution: A reduction in existing shareholders’ ownership percentage or earnings per share, often caused by issuing new stock in a takeover.