GameStop proposes $56 billion acquisition of eBay, WSJ reports

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(SeaPRwire) –   GameStop Corp. is set to propose a takeover of eBay Inc. valued at approximately $56 billion, offering $125 in cash and stock per share, according to an interview with GameStop CEO Ryan Cohen cited by the Wall Street Journal.

The company has reportedly built a stake of around 5% in the e-commerce platform and obtained a commitment letter from TD Bank for roughly $20 billion in debt financing to support the acquisition. GameStop plans to announce its formal offer later on Sunday, as per the WSJ report.

Cohen also indicated that he is ready to pursue a proxy fight and present the proposal directly to shareholders if needed.

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