GameStop has offered to buy ecommerce giant eBay for $55.5 billion, a tie-up that the video game retailer’s boss believes could produce a “legit competitor” to Amazon.
The offer comes amid something of a revival at eBay, which has pushed to reinvent itself in the face of rising competition from the likes of Walmart, Amazon, Shein, and Facebook Marketplace.
GameStop — which became a household name during the meme stock craze of 2021 — has offered $125 per share for eBay, half in cash and half in stock, the company announced Sunday. That represents a 46% premium to eBay’s closing share price on February 4, the day GameStop started building a 5% stake in the company.
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