Surprisingly, the gaming retailer GameStop has sent a buy offer to eBay, offering to purchase the auction platform, even though it recently had to close many of its stores itself.
What kind of offer is this? As BBC reports, the video game retailer GameStop is said to have submitted a buy offer to eBay. In it, GameStop CEO Ryan Cohen offers to buy the auction platform for $125 (approximately €107) per share. This is about $20 (approximately €17) more than a share was worth at Friday’s market close.
With this, GameStop would purchase eBay for $55.5 billion, which translates to about €47 billion. GameStop itself has a market value of only around $11.9 billion (approximately €10.1 billion) and brings an already confirmed financing of $20 billion (approximately €17 billion) as well.
The potential new eBay CEO is already explaining what he intends to do with the auction platform.
Reducing costs in the billions
What does the GameStop CEO plan? Ryan Cohen announced in a letter to eBay that he intends to save the company $2 billion (approximately €1.7 billion) annually in costs.
This also includes his own salary. As a potential new eBay CEO, he wants to receive “no salary, no cash bonuses, and no severance payments” and be “compensated solely based on the performance of the merged company”.
Cohen intends to save most costs in the area of Sales and Marketing Operation
. He sees the opportunity to save $1.2 billion (approximately €1 billion) there. He believes that the eBay brand is well-known enough that further expenditures in that area would not attract a significant number of new users.
What is behind the offer? GameStop and eBay could be a perfect merger for the CEO. The video game retailer has long missed the jump into e-commerce and wants to catch up on that under Cohen’s leadership.
On the other hand, eBay could benefit from the merger with the over 1,600 stores in the USA. While all stores in Germany were closed in 2025 for financial reasons, the chain in the USA is still alive.
It will be interesting to see how eBay responds to the offer. By market value, the auction platform is about four times larger than GameStop itself and could thus almost reverse the situation. Whether Cohen can ultimately call: 3,2,1 Mine!
remains to be seen.
GameStop has been in the sights of many investors and gamers for years. An investor made it his mission to save the struggling retailer with the power of gamers and even took on major market players: Twitch star xQc, Reddit, and Elon Musk fighting against Wall Street
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