GameStop shares rose 1.4% in premarket trading to $22.07 after the video game retailer reaffirmed its intention to pursue the proposed acquisition of eBay, despite the online marketplace rejecting its unsolicited takeover approach. In a regulatory filing, GameStop confirmed it remains committed to its approximately US$56 billion cash-and-stock proposal and intends to continue pursuing the transaction as part of its long-term strategic plans. The company projected adjusted EBITDA of more than US$600 million for fiscal 2026, compared with approximately US$345 million for fiscal 2025, and has increased its ownership stake in eBay to 7.8%. Chief Executive Ryan Cohen has reportedly waived a potential performance-based compensation package to focus on advancing the deal, while recent financial results showed record quarterly net income of US$389.6 million and a 14% year-over-year increase in net sales driven by the collectibles business.
GameStop Corp.GameStop reaffirms its intention to acquire eBay, boosting investor sentiment; shares rose 1.4% in premarket.
eBay IncGameStop reaffirms pursuit of eBay acquisition, which could be disruptive or value-destructive; eBay has rejected the approach, creating uncertainty.