- Companies
June 26 (Reuters) – GameStop (GME.N), opens new tab pledged on Friday to pursue its proposed takeover of eBay (EBAY.O), opens new tab, even after the e-commerce firm rejected an unsolicited cash-and-stock offer of about $56 billion from the videogame retailer.
The company also said in a short regulatory filing that this year’s earnings will be strong, helping push up its stock price more than 2% in after-hours trading.
GameStop CEO Ryan Cohen surprised Wall Street with the offer to buy eBay in May, arguing a combined company would be a bigger competitor to Amazon and saying he would run it. EBay rejected it the same month.
The company said it was holding firm on plans to buy eBay, a company roughly five times its size, but did not provide the details on Friday about its rationale and next steps.
GameStop said on Tuesday it would release additional materials regarding its plans for eBay this week, including a detailed presentation of the strategic rationale and operational plan for the combined company. On Friday, GameStop said, “additional materials regarding the proposed transaction are forthcoming.”
An eBay spokesperson could not be immediately reached for comment.
The company said it expects to generate adjusted earnings before interest, taxes, depreciation and amortization of more than $600 million in fiscal 2026, compared with $345.4 million reported in fiscal 2025.
Jaspreet Singh
Read more Iran says it hits US-linked targets as Bahrain reports drone attack
Read more French city-dwellers swap stifling apartments for cool hotel rooms
Read more Trump threatens 100% tariff on any country that imposes digital services tax
