The video game retailer Gamestop wants to take over the much larger online trading platform Ebay.
May 4, 2026, 4:31 a.mMay 4, 2026, 4:31 a.m
The offer is worth around $56 billion in the form of cash and shares, as Gamestop boss Ryan Cohen told the Wall Street Journal.
Gamestop wants to take over eBay.Image: keystone
Cohen explained his plan by saying he wanted to build a much stronger competitor to Amazon with Ebay. After a takeover, he aims to lead the merged company.
Gamestop announced a bid of $125 per share on Sunday. That corresponds to a surcharge of 20 percent on Friday’s closing price, emphasized Cohen. In after-hours trading, the price had already climbed to a good $116 after the Wall Street Journal reported Cohen’s plans for a bid, citing informed people.
Gamestop already has a stake of around five percent in eBay. Based on the number of outstanding shares most recently reported by Ebay, Gamestop estimates the value of the offer to be around $55.5 billion.
Most of the financing is still unclear
Cohen now told the newspaper that he already had a commitment to a loan of around $20 billion for the takeover. It initially remained unclear how exactly the remainder of the purchase price would be financed.
Before Gamestop, Cohen co-founded the online retailer Chewy, which specialized in pet items. In 2020 he built up a large stake in the games retailer, whose management he criticized as being too slow in online business, and took over the management position in 2023. He closed many stores and instead focused on trading cards and retro console games that arouse nostalgia among gamers.
Ebay with a focus on collectors and AI
Ebay is also currently trying to focus more on lucrative categories such as collectibles, car parts and used fashion items. Company boss Jamie Iannone also relied on artificial intelligence to make shopping on the platform easier for users. There was initially no reaction from eBay to Cohen’s announcement.
Gamestop made headlines at the beginning of the corona pandemic because amateur online traders drove up the share price despite Wall Street analysts’ doubts about the business model. (sda/dpa)