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.
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.