Video game retailer GameStop announced Sunday it has made an unsolicited offer to acquire online marketplace eBay for approximately $56 billion in a cash-and-stock transaction, marking one of the most ambitious takeover attempts in recent corporate history.
The Wall Street Journal reports that GameStop is offering $125 per share for eBay in a deal structured as an equal mix of cash and stock, according to a letter sent by GameStop CEO Ryan Cohen to eBay’s board of directors. The proposed price represents a 20 percent premium over eBay’s closing stock price on Friday. Cohen has indicated he is prepared to bypass eBay’s board and take the…
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