GameStop Proposes $80 Billion 'Big Deal' with eBay Acquisition Offer

On May 1, GameStop Corp. (GME) disclosed in a Schedule 13D filing that it has acquired economic exposure equivalent to about 5% of eBay Inc.’s (EBAY) outstanding shares—combining 25,000 common shares and related derivative positions. It also made a non-binding proposal to acquire all issued and outstanding eBay shares for $125 per share in a mix of cash and stock, valuing the company at roughly $55.5–56 billion.

Earlier, eBay CEO Jamie Iannone announced that, under a pre-established Rule 10b5-1 trading plan executed April 6–7, he sold tens of thousands of shares in tranches at prices between $95 and $98 per share, raising about $4.1 million in cash while retaining several hundred thousand shares—both directly and indirectly.

On May 3, GameStop formalized its takeover bid via press release, and on May 4, eBay confirmed receipt of the unsolicited proposal, stating that its board will evaluate the offer’s value and the likelihood of deal completion. Recently, eBay reported first-quarter fiscal 2026 results that outpaced market expectations for growth and profitability, and its stock has jumped into double-digit gains on renewed investor interest following the takeover news.

Founded in 1995, eBay is a U.S.-based online marketplace that has grown into an e-commerce platform centered on secondhand goods, hobbies, and collectibles, connecting individual and small-scale sellers worldwide. Meanwhile, GameStop—originally an offline video game retailer—is pursuing digital transformation and expanding its commerce footprint. Analysts view this takeover proposal as GameStop’s bid to evolve into a major, integrated commerce player capable of competing with Amazon.