US video games retailer GameStop has offered to buy eBay for $55.5bn (£41bn) in an unsolicited bid that its boss warned could turn hostile if the proposal is rebuffed by eBay’s board.
GameStop, which has quietly accumulated a 5% stake in eBay, said it was willing to pay $125 a share, split 50-50 between cash and stock.
It is an ambitious move by the games company, which catapulted to fame during the meme-stock craze of 2021 but is worth far less than its takeover target. GameStop had a market valuation of roughly $12bn on Friday before its bid, while eBay – originally launched as a side hobby by its founder Pierre Omidyar in 1995 – is worth about $46bn.
Just what the company needs … tens of billions in more debt.
How about, and hear me out here… How about, we jettison Ryan Cohen into the sun.
Genuinely, two out of the three GameStops near me just closed for good. How is that the sign of a company that could manage a hostile takeover of a major industry player from the dotcom era?
Edit: apostrophe on mobile
I’m so happy Ryan found Canada “too woke” and sold GameStop’s Canadian branch. Only good thing he’s done because now it’s rebranded back to the proper EB Games name and owned by Canadians
Yeah, this guy is trash. Vibe businessing needs to go.
Relevant comment from Hacker News:
Yeah, exactly what I was thinking. I’m just saying these fuckers are parasites and I’m in favor of bringing back the original meaning of “poison pill” for these moneyed trash bags.
Well if the rent and costs are higher than revenue, it’ll bleed and eventually kill the business. Bricks and Mortar stores don’t make as much as before.
How many GameStop shops do you actually need near you? Sounds like your area was oversubscribed.
Many great brands have died to Amazon in the UK. One day, we’ll only have these big shitty businesses. Anything that can keep bricks and mortar stores in business is probably necessary.
Didn’t expect them to be buying eBay though. That came out the blue.
Yeah, I get that, I just also am not sure they’re doing such great business online either, they had serious issues even before and after the meme stock craze.
Mostly just ticked at people enshitifying functioning businesses.
Edit: To your oversaturation point, definitely one in my immediate area was more than enough. They also closed one down around thirty minutes from me which is kinda rough for that town and the employees there.
Don’t worry. I’ll teach you some basic economy. If you have more costs than income you should try to either increase the income, decrease costs, or even better - both. That’s what he did