GameStop makes $56 billion to buy eBay

GameStop has he gave to buy eBay for $56 billion, which comes as part of GameStop CEO Ryan Cohen’s plan to turn the online marketplace into “legitimate competition for Amazon,” he said. The Wall Street Journal. In announcement on MondayeBay says it will “carefully review” the unsolicited request, adding that there is “no discussion or communication from GameStop” before accepting the sale.

GameStop says it will finance the acquisition using $9.4 billion in the company’s operating balance sheet and third-party funds, including up to $20 billion from TD Securities. As we said and WSJthe company did not say how it will get all the money for the purchase, but the sources tell the seller that “Cohen may use foreign money, such as money from the Middle East economy, to support the deal.” The WSJ reports that Cohen is ready to start a proxy fight to take over eBay if the company does not accept his offer.

Cohen has a big incentive to grow GameStop, which was on Center of the memestock craze in 2021. Underneath it new salary packageCohen can make a total of 35 billion dollars if the company achieves certain financial goals, such as reaching a market of 100 billion dollars, as he said. WSJ. “eBay needs to be – and will be – a lot of money,” Cohen told reporters WSJ. “I’m thinking of turning eBay into a multi-billion dollar business.”