On Monday, May 4, the legendary ‘Big Short' trader Michael Burry seemingly cast his vote of no confidence regarding Ryan Cohen's latest ambitious corporate acquisition bid.
The $56 billion bid is another sign that the credit mania continues.
How do you turn a shrinking video game retailer into a serious competitor of everything-store Amazon? Be niche, according to GameStop CEO Ryan Cohen.
GameStop's CEO had an awkward CNBC interview. At various moments, the hosts laughed, exhaled, or raised their eyebrows.
Traders on prediction markets platform Kalshi give the video game retailer just a 26% chance at successfully completing an acquisition in 2026. GameStop CEO Ryan Cohen in an appearance on "Squawk Box" didn't disclose further details about how it plans to finance its proposal.
GameStop has crafted a takeover bid where it can win even if it loses the deal.
GameStop, an $11 billion company, is offering $56 billion in cash and stock for a $45 billion rival.
The company's valuation is currently hovering around $48.8 billion following the Monday stock surge. Meanwhile, GameStop's shares were down more than 8%, dropping its market cap below $11 billion – meaning it is far smaller than its acquisition target.
Once a struggling brick-and-mortar retailer, GameStop is now swinging for a much bigger stage. GameStop NYSE: GME CEO Ryan Cohen made his move, announcing the intended acquisition of eBay NASDAQ: EBAY, but now faces many challenges.
Famed investor Jim Cramer has delivered a blistering critique of GameStop's (NYSE: GME) aggressive overtures toward eBay. While meme-stock enthusiasts celebrated the audacity of the proposal, the former hedge fund manager questioned the underlying motives, comparing the maneuver to high-stakes corporate raiding tactics from the 1980s.
GameStop Corp (NYSE:GME) shook up Wall Street this morning, as CEO Ryan Cohen toys with buying eBay (EBAY) for $56 billion in an attempt to rival Amazon.com (AMZN).
GameStop Corp (NYSE:GME) has made an unsolicited, non-binding proposal to acquire eBay Inc (NASDAQ:EBAY, XETRA:EBA) in a deal valuing the online marketplace at approximately $55.5 billion. The offer, submitted on Monday, proposes $125 per share in a mix of 50% cash and 50% GameStop common stock, with shareholders given the option to elect their preferred form of consideration, subject to pro-rata allocation.