GameStop made a $56 billion offer for eBay, offering $125 per share. The market reaction is cautious, and CEO Ryan Cohen wants to turn GameStop into a competitor for Amazon.

GameStop has surprised the market with an offer of approximately 56 billion dollars for the acquisition of eBay, proposing 125 dollars per share, which represents a premium of 20% compared to the previous closing price. However, the market's reaction has been tepid, with eBay's shares rising modestly, suggesting investors' skepticism about the completion of the deal. CEO Ryan Cohen intends to transform GameStop into a stronger competitor for Amazon, using its network of 1,600 physical stores for logistics. However, the size of the offer raises questions, considering that GameStop has a market capitalization of 12 billion dollars, well below eBay, valued at 46 billion. GameStop has 9 billion dollars in liquidity and could seek external financing, including a commitment of 20 billion dollars from TD Securities. Analysts warn that the differences in business models and the high level of debt could complicate the deal. eBay has announced that it is reviewing the offer, and Cohen has suggested that he might appeal directly to shareholders in the event of a rejection, paving the way for a possible battle for control.