The move comes even after eBay rejected GameStop’s unsolicited cash-and-stock offer, which valued the e-commerce company at about $56 billion. GameStop first made the offer in May, with Cohen arguing that a combined company would be better positioned to compete with Amazon (AMZN).
Meanwhile, GME shares rose 3.57% on Friday, closing at $21.76.
GameStop Stays Committed to eBay Deal
GameStop said in a short regulatory filing that “additional materials regarding the proposed transaction are forthcoming.” The company had previously said it would release a more detailed presentation explaining the strategic rationale and operating plan for a combined GameStop and eBay.
For GME investors, the proposed deal remains unusual. eBay is roughly five times GameStop’s size, making financing, execution, and shareholder support key questions. GameStop did not provide new details on how it plans to move forward after eBay’s rejection.
