Key Takeaways:
Gamestop offered $55.5B for Ebay at $125/share, with TD Bank providing $20B in debt financing. The bid draws on Gamestop’s $519M bitcoin position, built from 4,710 BTC purchased in fiscal 2025. Ryan Cohen plans a proxy fight if Ebay’s board refuses, signaling full commitment to the acquisition. The OfferGamestop submitted an unsolicited, non-binding offer to acquire Ebay for approximately $55.5 billion, $125 per share in a roughly equal split of cash and Gamestop common stock, representing a 20% premium to Ebay’s last Friday close.
