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GameStop makes $55.5bn takeover offer for eBay (www.theguardian.com)

submitted 1 week ago by Powderhorn@beehaw.org to c/technology@beehaw.org

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US video games retailer GameStop has offered to buy eBay for $55.5bn (£41bn) in an unsolicited bid that its boss warned could turn hostile if the proposal is rebuffed by eBay’s board.

GameStop, which has quietly accumulated a 5% stake in eBay, said it was willing to pay $125 a share, split 50-50 between cash and stock.

It is an ambitious move by the games company, which catapulted to fame during the meme-stock craze of 2021 but is worth far less than its takeover target. GameStop had a market valuation of roughly $12bn on Friday before its bid, while eBay – originally launched as a side hobby by its founder Pierre Omidyar in 1995 – is worth about $46bn.

Just what the company needs ... tens of billions in more debt.

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[–] XLE@piefed.social 10 points 1 week ago (1 children)

I've heard rumblings the CEO is offering to buy eBay because his income is tied to specific revenue goals. This would put the company into debt, but it would juice the revenue numbers so the CEO can make off like a bandit

[–] iltoroargento@startrek.website 4 points 1 week ago

Yeah, exactly what I was thinking. I'm just saying these fuckers are parasites and I'm in favor of bringing back the original meaning of "poison pill" for these moneyed trash bags.