The meme stock king is attempting a massive pivot, GameStop disclosed a 5% stake in eBay today, proposing an all cash and stock buyout…
eBay shares surged 5.6% on the news, GameStop shares fell 4%, investors weigh the reality of a brick and mortar retailer swallowing a digital giant…
Ryan Cohen’s latest gambit aims to merge physical collectibles with global e-commerce, the “everything store” for gamers and collectors…
Analysts are skeptical of the financing, GameStop’s cash pile is large, but the $30B+ valuation for eBay requires massive leverage…
The “short squeeze” crowd is back, this time they are betting on a total corporate transformation.
If the board rejects the deal, expect a hostile takeover attempt by the end of the week.
GameStop proposes a full buyout after disclosing a 5% “toehold” stake
“May 4 (Reuters) – GameStop CEO Ryan Cohen’s unprecedented $56 billion takeover bid for the much larger eBay (EBAY.O), opens new tab drew skepticism from investors and analysts on Monday, with shares in the online retailer trading much below the offer price.
The nearly $12 billion video-game retailer, popular among meme-stock traders, is attempting a half-cash, half-stock buyout of a company nearly four times its market value with just around $9 billion in cash and a debt load of $4.2 billion.”