Word that GameStop is gearing up to take a swing at buying eBay hit San Jose like a thunderclap yesterday, suddenly putting the e-commerce giant’s hometown headquarters under a very bright spotlight. If the chatter proves accurate, it would mark a huge pivot for GameStop, as CEO Ryan Cohen chases a deal that could push the company far beyond its roots in gaming retail.
Report details
According to Silicon Valley Business Journal, which cited reporting in The Wall Street Journal, GameStop is preparing an acquisition offer for eBay. The reporting says GameStop has quietly built a stake in eBay and may submit an offer as soon as later this month.
What the Journal reported
As reported by The Wall Street Journal, people familiar with the matter told the paper that Cohen could take a bid directly to eBay shareholders if the board resists. The Journal’s account is the clearest sign so far that Cohen is preparing to use GameStop’s capital and market position…..