Cohen told The Wall Street Journal that GameStop has built a roughly 5% stake in eBay and was offering $125 a share in cash and stock, a roughly 20% premium to its closing price on Friday.
Cohen said he has a commitment letter from TD Bank to provide around $20 billion in debt financing to help make a deal possible.
If eBay isn’t receptive to the proposal, Cohen said he was prepared to run a proxy fight and take his offer directly to shareholders. GameStop is expected to make the details of its offer public later Sunday.
Disclosure: Long $GME, no position in $EBAY.
GameStop Is Offering to Buy eBay for $56 Billion
byu/PhxCollins instocks
Posted by PhxCollins
13 Comments
The fact this isn’t the stupidest thing that’s happened recently is pretty impressive
What a dumb fucking timeline.
It’s about damn time.
Wild
Mr.Burry was right once again
Is $125 the buy it now price? And does that include shipping?
The short thesis is GME goes to zero. The teal question is, how does GME ever go to zero if they own EBay. The answer is they don’t. So even a short term loss is a long term gain. You can only the kick the can so far. Shorts will NEVER close. We won.
I’m sure the bag holders will have plenty to say about this one
Shills.. ASSEMBLE
I like the stock
This makes no sense in synergies. eBay has $2 billion in debt so the combined company will have $22 billion in debt and provide no cost savings or anything that makes sense. If he was bullish on eBay it would make more sense to buy a minority position
Can someone take over Pypl so that I can gtfo lol
I’m just so over this garbage