GameStop making $56 billion offer to acquire eBay, WSJ says
GameStop Corp. will offer $125 in cash and stock per eBay Inc. share in a takeover proposal valued at about $56 billion, the Wall Street Journal reported, citing an interview with GameStop Chief Executive Ryan Cohen.
Cohen told the paper that GameStop has built a roughly 5% stake in the e-commerce platform and secured a commitment letter from TD Bank to provide about $20 billion in debt financing for a deal. The company is expected to make its offer public later on Sunday, the WSJ said.
The executive also told the paper that he is prepared for a proxy fight and take the offer to shareholders if necessary.
This story was originally featured on Fortune.com