PANews reported on May 4th that, according to the Wall Street Journal, GameStop CEO Ryan Cohen announced plans to acquire eBay for approximately $56 billion in cash and stock, aiming to make it a strong competitor to Amazon. Cohen stated that GameStop already holds about 5% of eBay's shares and plans to offer $125 per share, a premium of approximately 20% over Friday's closing price. Furthermore, GameStop has secured a commitment of approximately $20 billion in debt financing from TD Bank.

Cohen stated that he plans to transform eBay into a company with a market capitalization of hundreds of billions of dollars. Although the two companies have overlapping businesses in the collectibles and pre-owned goods sectors, analysts believe the deal is unlikely to succeed due to the potential for significant equity dilution and execution risks.

Currently, GameStop's market capitalization is approximately $12 billion, while eBay's is approximately $46 billion. Cohen also revealed that he would submit the acquisition proposal to a shareholder vote through a proxy fight if necessary.