Meme Stock GameStop Pitches $56 Billion Takeover of eBay
Bloomberg.com • • general
Key Points:
- GameStop Corp. has proposed to acquire eBay Inc. for approximately $56 billion in cash and stock, aiming to take over the much larger e-commerce company.
- The offer values eBay shares at $125 each, representing about a 20% premium over the previous closing price.
- GameStop currently holds around a 5% stake in eBay and has secured a non-binding letter from TD Bank for approximately $20 billion in debt financing.
- Ryan Cohen’s company plans to achieve around $2 billion in annual cost savings within 12 months after the acquisition closes.
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