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Stock Track | eBay Soars 9.75% in Pre-Market on GameStop's $56 Billion Acquisition Offer

Stock Track05-04 16:06

Shares of eBay surged 9.75% during pre-market trading on Monday, following a significant unsolicited acquisition proposal from fellow retailer GameStop.

The sharp move higher was triggered by news that GameStop Chief Executive Ryan Cohen has made an offer to acquire eBay for approximately $56 billion. The proposal values eBay at $125 per share, payable as a 50/50 mix of cash and GameStop stock, representing a roughly 20% premium to eBay's closing price from the previous trading session.

GameStop disclosed it has already accumulated an economic stake of about 5% in eBay. CEO Ryan Cohen stated he is prepared to take the offer directly to eBay's shareholders via a proxy fight if the company's board does not engage with the proposal, signaling a potentially hostile takeover attempt.

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