GameStop Seeks To Acquire eBay
eBay stock rose approximately 15 percent in post-market trading following reports that GameStop is preparing to make an offer for the company. The company is currently making a profit, according to reports. This follows a period where the company was loss-making and subject to volatility driven by amateur investors on Reddit. Bill Denning, Chief Investment Officer for W1M in London, described the move as audacious. Details regarding the specifics of the bid remain unclear. GameStop is offering $1.25 per share in cash and stock to acquire the e-commerce marketplace eBay. eBay shares were trading at $109.34 while GameStop shares were at $24.34 following an 8.2% decline. The acquisition would make the gaming retail chain several times larger than the online marketplace. The proposed acquisition price represents approximately four times GameStop's current company valuation.
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Sources · 7 independent
“we're seeing eBay stock flying in the post market now up about 15 percent. So this certainly is going to be a story to watch come trading reopening on Monday. Again, GameStop purportedly preparing to make an offer for eBay.”
“Videospielhändler GameStop will die Online-Handelsplattform eBay übernehmen für rund 56 Milliarden US-Dollar. GameStop-Chef Ryan Cohen sagte dem Wall Street Journal, er wolle mit der Übernahme einen Konkurrenten zu Amazon aufbauen.”
“US-amerikanische Videospielehändler GameStop will die Online-Handelsplattform eBay übernehmen. GameStop-Chef Cohen sagte dem Wall Street Journal, das Angebot sei rund 56 Milliarden US-Dollar schwer.”
“video game retail chain GameStop has made a $55.5 billion unsolicited offer to buy e-commerce firm eBay. The cash and stock offer values eBay at $125 a share, $20 more than the share were valued at when New York trading ended last week on Friday.”
“It's a bold attempt by CEO Ryan Cohen to take over a storied e-commerce name several times larger. GameStop has already built a roughly 5% stake in eBay and says it has secured a commitment from TD Bank to provide about $20 billion of debt financing to help bankroll the deal.”
“GameStop wollte mit eBay gegen den Online-Händler Amazon konkurrieren. Demnach will die US-Videospielkette GameStop rund 55 Milliarden Dollar investieren, um eBay zu kaufen.”
“GameStop, the gaming company, is trying to buy eBay, the not gaming company and e-commerce site. GameStop is the smaller of the two, but it says it is down to spend about $1 billion.”
“shares of eBay on the move, up 9% on news that GameStop is proposing to buy the e-commerce company for about $56 billion in cash and stock.”
“Video game retailer GameStop is making a play for eBay. The retail chain is proposing to buy the online marketplace for about $56 billion.”
“the now profit-making but still relatively small GameStop has just launched an unsolicited and you have to say very ambitious $55 billion offer to take.”
“GameStops making a profit.”
“GameStop has made an unsolicited $56 billion bid to buy eBay. ... eBay is about four and a half times bigger than GameStop.”
“GameStop offering $125 a share for eBay. That's a 20% premium to”
“The gaming retail chain is offering $1.25 a share in cash and stock for the online marketplace. That's roughly a 20% premium to its Friday close.”
“GameStop is pitching a cash and stock takeover of eBay for $56 billion. That's four times GameStop's value as a company.”
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