GameStop reaffirms eBay takeover bid, raises fiscal 2026 outlook

M&A · Partnership Impact 4
โดย Reuters·Read original
Summary · why it matters

GameStop reaffirmed its commitment to acquire eBay despite the board's rejection of its unsolicited offer, while projecting adjusted EBITDA for fiscal 2026 to surpass $600 million, up from $345.4 million in fiscal 2025. The company said further documentation on the proposed transaction will be released in the coming days. CEO Ryan Cohen's non-binding May proposal offered $125 per eBay share in a cash-and-stock deal valuing eBay at roughly $55.5 billion, backed by $9.4 billion in GameStop cash reserves and up to $20 billion in debt financing from TD Securities. eBay's board called the proposal neither credible nor attractive, citing concerns over financing, management, and compensation structure. GameStop, with a market value of about $10 billion, is pursuing a company roughly five times its size, and a $35 billion bonus plan tied to market-cap milestones was scrapped at Cohen's request earlier this week.

Impact on stocks 3

Consumer Discretionary± Mixed · 2 stocks
GameStop Corp.
GME
▲ PositiveCapitalrelevance

GameStop reaffirms acquisition bid and raises fiscal 2026 EBITDA outlook, signaling growth and strategic ambition.

eBay Inc
EBAY
▼ NegativeCapitalrelevance

GameStop's reaffirmed takeover bid pressures eBay's board and stock, with concerns over financing and management.

Financials▲ · 1 stocks
Toronto Dominion Bank
TD
▲ PositiveCapitalrelevance

TD Securities is named as debt financing provider for the potential $20 billion loan, indicating a major banking mandate.

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