GameStop’s $56B eBay Bid Sparks Market Divergence
BTCCSquare news:
GameStop CEO Ryan Cohen's unsolicited $56 billion offer for eBay—half cash, half stock—sent both companies' shares on divergent paths Monday. GME dropped 8.5% to $24.33 as Wall Street questioned the deal's viability, while EBAY rose 6% to $110 on the 20% premium bid.
Baird analyst Colin Sebastian rates the acquisition attempt a 'relatively low probability' play. The proposed $125/share price represents a 46% premium to eBay's February 4 close, when GameStop began accumulating its stake.
eBay confirmed receipt of the non-binding offer, stating its board would review the proposal. Cohen emphasized readiness to take the bid directly to shareholders if necessary.
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