GameStop chief Ryan Cohen eyes partnership with eBay over full acquisition
GameStop CEO Ryan Cohen is reportedly weighing a deal that would let eBay use GameStop’s roughly 1,600 U.S. stores instead of pursuing a takeover.
According to people familiar with the matter, Ryan Cohen, who rose to prominence among retail investors as GameStop became a meme stock, is now considering a partnership that would grant eBay access to GameStop’s network of about 1,600 U.S. stores. The arrangement could allow both companies to capture a larger share of the lucrative trading-card and collectibles sector, and would include a request for GameStop to obtain a board seat at eBay.
At midday on Monday, eBay’s stock fell roughly 4% to $107.58, while GameStop’s price remained steady at $19.15 per share. Cohen’s earlier non-binding proposal to purchase eBay at a premium was met with skepticism, and eBay’s board, led by Chairman Paul Pressler, labeled the offer as neither credible nor attractive. GameStop currently holds a 9.75% stake in eBay, making it the platform’s second-largest shareholder. The companies have not commented on the latest talks.
Why it matters
The potential alliance could reshape how both firms compete in the collectibles market and affect their shareholders.
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