GameStop CEO Ryan Cohen He said on Thursday (July 16) that the company continues to pursue the acquisition eBayBloomberg I mentioned Thursday.
In an interview with Bloomberg TV, Cohen declined to say whether he planned to raise his bid for the company, but said, “We’re coming to eBay one way or another,” according to the report.
EBay rejected a $56 billion offer from GameStop earlier this year, the report said.
Cohen said Thursday that he aims to turn the combined company into a trillion-dollar company, in part by building a digital marketplace for video game items, leveraging synergies between the two companies’ collectibles businesses, and using GameStop locations as trading card authentication centers, according to the report.
“The initial company will be investment grade,” Cohen said.
PYMNTS reported on May 3 that GameStop announced it had filed Non-binding proposal To acquire 100% of eBay, after closing, Cohen will serve as CEO of the new combined company.
In a letter to eBay, GameStop said eBay spent $2.4 billion on sales and marketing during fiscal year 2025 and added just 1 million active buyers. GameStop pledged to cut about $1.2 billion in sales and marketing costs as part of $2 billion in annual cost cuts within 12 months of the shutdown.
On May 12, PYMNTS reported that eBay rejected GameStop’s $56 billion order. Takeover offer He described the proposal as “neither credible nor attractive.”
eBay said in an announcement that its board of directors reviewed the surprise takeover offer and decided to reject it based on eBay’s “independent expectations,” “uncertainty” about how the deal would be financed, and the impact of the offer on its long-term profitability and growth.
GameStop said in a June 26 press release that its “leadership team remains focused on game development Proposed acquisition from eBay” and that “additional materials relating to the proposed transaction will be available soon.”
On July 7, GameStop said in a press release that its shareholders had approved an increase in the number of authorized shares of Class A common stock and that this amendment “provides the company with the ability to issue common stock in connection with strategic acquisitions, including strategic acquisitions.” Proposed acquisition From eBay, Inc.”
