GameStop has made an unsolicited offer to acquire eBay Inc for about US$56 billion (S$71 billion), the Wall Street Journal reported on May 3, citing an interview with GameStop CEO Ryan Cohen.
GameStop has built a roughly 5 per cent stake in eBay and is offering US$125 a share in cash and stock, Mr Cohen told the WSJ. The offer represents a premium of about 20 per cent to eBay’s last closing price on May 1.
If the US online marketplace eBay is not receptive, Mr Cohen said he was prepared to run a proxy fight and take the offer directly to shareholders, the report added.
GameStop and eBay did not immediately respond to requests for comment.
Grapevine, Texas-based GameStop is expected to disclose details of its offer later on May 3, the Journal said. REUTERS
