GameStop Weighs Pulling $56 Billion eBay Bid for Partnership
GameStop submitted an unsolicited, nonbinding offer for eBay on May 3, 2026, valuing the online marketplace at about $56 billion, or $125 a share, in an equal mix of cash and stock. EBay’s board rejected the proposal on May 12. The approach was significant because it sought to combine eBay’s global marketplace with GameStop’s physical footprint and accelerate growth in higher-margin categories including trading cards and collectibles.
GameStop Chief Executive Officer Ryan Cohen was considering withdrawing the $56 billion proposal as of Aug. 10, 2026, according to people familiar with the matter. Cohen may instead propose a partnership or joint venture that would let eBay use GameStop’s roughly 1,600 U.S. stores for authentication, intake, fulfillment and live commerce. The companies could use that network to expand their share of the trading-card and collectibles markets, though no final decision or deal terms have been announced.
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The history behind this eventGameStop Weighs eBay Acquisition to Expand Resale, Livestream Commerce
GameStop, historically centered on brick-and-mortar video-game retail, has been expanding into collectibles and resale, including Pokémon trading cards. Chief Executive Ryan Cohen sees the company’s store network as potential infrastructure for in-person handoffs, authentication and fulfillment, addressing trust and delivery problems that often complicate online sales of valuable collectibles. An eBay combination could give GameStop broader reach as it searches for growth beyond its legacy retail business.
As of Aug. 6, 2026, Cohen has disclosed a strategic interest in acquiring eBay, though no formal offer, transaction structure or timetable has been announced. His concept would pair eBay’s large secondhand marketplace with GameStop locations serving as exchange and logistics hubs. GameStop is also considering livestream commerce, a market Cohen said could have $400 billion in potential, as a way to turn collectible trading into real-time, audience-driven sales.
eBay Formally Rejects GameStop’s $56 Billion Takeover Bid; GME Plans Proxy Fight
Under CEO Ryan Cohen, GameStop has sought major acquisition opportunities alongside efforts to transform its video game retail business in recent years. It targeted e-commerce platform eBay with a $56 billion takeover offer. A deal would significantly reshape both companies, putting the eBay board’s response under close shareholder scrutiny.
As of July 2026, eBay’s board had formally rejected the $56 billion proposal, calling its financing arrangements not credible and the offer unattractive to the company and its shareholders. Cohen subsequently said GameStop would appeal directly to shareholders and launch a proxy fight for control of the board if eBay’s directors continued to refuse negotiations.
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