GameStop’s $56B bid for eBay sends its shares tumbling 18%, as investors question the risky move to dominate e-commerce.
Key takeaways
- GameStop Proposes $56 Billion Acquisition of eBay, Shares Drop
- GameStop stunned Wall Street by announcing a $56 billion all-stock bid to acquire eBay, sending its own shares tumbling 18% in pre-market trading. The deal, unveiled e...
- GameStop’s proposal values eBay at a 25% premium to its Wednesday close, signaling a bet-the-company gamble by CEO Ryan Cohen, who called the deal “a transformative le...
- Investors wasted no time expressing doubts about GameStop’s ability to pull off a deal more than five times its own market cap. By midday, GameStop’s valuation had sli...
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