GameStop makes $55.5bn takeover offer for eBay
GameStop has made a $55.5bn unsolicited takeover offer for eBay, valuing the company at $125 per share. GameStop's CEO Ryan Cohen plans to make $2bn in cost savings within a year of the deal being completed.
GameStop has made a $55.5bn unsolicited offer to take over eBay. The cash and stock offer values eBay at $125 a share. GameStop's CEO Ryan Cohen plans to make $2bn in cost savings within a year. The majority of the proposed cost cuts would be in eBay's sales and marketing operation. Cohen would be the CEO of the combined company and receive no salary or bonuses. GameStop has a commitment letter from TD Securities to provide around $20bn in debt to help finance the deal.
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