GameStop will pursue eBay takeover despite initial rejection

GameStop will continue to pursue its unsolicited eBay takeover, weeks after the e-commerce company’s board dismissed the initial $56 billion cash and stock proposal from the retail gaming company as not attractive and borderline insulting. The video game retailer confirmed that it remained dedicated to completing the deal and said “additional materials regarding the proposed transaction are forthcoming,” according to Reuters. The company had promised to release a detailed presentation covering the strategic rationale and operational plan for combining the two companies earlier in the week, but the document had not been published by Friday’s close.

GameStop’s first eBay bid GameStop CEO Ryan Cohen’s first pitch in May involved an offering of $125 per share and an interest in running the new entity post-merger. He described the merger as a path to building a solid competitor to Amazon. The eBay board, led by Chairman Paul Pressler, rejected the proposal on May 12 calling it “unappealing” and questioning GameStop’s financial capacity to support the bid, as reported by Crypropolitan.

At the time of the bid, GameStop’s market cap was approximately $10.3 billion. GameStop posts stronger earnings In addition to confirming an unending interest in the eBay pursuit, GameStop has predicted an adjusted EBITDA hitting more than $600 million for fiscal 2026, up from $345.

4 million in 2025. This led to a 2% increase in share prices in after-hours trading on Friday. The earnings projection may be aimed at bolstering the game retailer’s credibility as a buyer.

A standalone GameStop generating nearly double last year’s EBITDA strengthens the argument that the company can service acquisition debt. GameStop has still not filed a formal tender offer after the rejection, and the promised presentation, when or if it does arrive, will need to address the financing shortfall and integration plans in concrete terms to further move the needle on investor sentiment. Debt concerns amid GameStop