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US retailer GameStop has made an unsolicited offer to buy eBay to the tune of $55.5 billion.
"What's eBay?", you ask..?
Well, it featured in The 40-Year-Old Virgin in which a quaint little store takes your items and sells them on a new-fangled website for you. In all seriousness, eBay really needs no introduction. Founded in 1995, it's since gone on to be one of the most well-known e-commerce sites in existence with a market value of $46 billion.
GameStop made the announcement on Sunday, submitting a non-binding proposal to acquire 100% of eBay at $125 per share in cash and stock. According to the announcement, GameStop CEO Ryan Cohen would take on the same role for the combined company should the offer close.
In an interview with the Wall Street Journal, Cohen believes that he can transform eBay into a much bigger competitor to Amazon. He certainly has a strong motive to do so: in an announcement at the beginning of 2026, it was confirmed that Cohen would receive a maximum pay packet of $35 billion if he succeeds in raising GameStop's market value to $100 billion.
According to GameStop's statement, he currently "receives no salary, no cash bonuses, and no golden parachute" and will only be compensated based solely on the performance of the company.
These billionaires and their shenanigans, eh?
Both GameStop and eBay saw a surge in shares following the announcement, though the feasibility of the offer remains in question. GameStop currently has a market value of $12 billion, which is much smaller than that of eBay's.
Naturally, the proposal will be subject to approval from eBay's board of directors, regulators, and shareholders, though Cohen has also indicated his intention to take the offer directly to shareholders, if necessary.