GameStop CEO Ryan Cohen weighs withdrawing $56 billion eBay bid, considering partnership

Cohen – who became a favorite of retail investors as GameStop rose to “meme stock” prominence – is instead considering proposing a partnership that would allow eBay access to GameStop’s base of approximately 1,600 US stores, Bloomberg reported, citing people familiar with the matter.

GameStop, led by Chief Executive Officer Ryan Cohen, is considering withdrawing its $56 billion bid for eBay Inc., according to people familiar with the matter. Bloomberg's Bailey Lipshultz joins to discuss this as well as how Switch filed confidentially for a US IPO, joining its data center peers in tapping demand for exposure to the artificial intelligence theme. (Source: Bloomberg)

GameStop CEO Ryan Cohen might be ready to pull the plug on his ambitious plan to purchase eBay for $56 billion, a new report claims. Cohen--who came up with the plan while seated on his porcelain throne--had been pursuing the deal ever since it was announced, but eBay rejected the offer, saying it was “neither credible nor attractive.” According to Bloomberg, Cohen is now considering a different strategy that would revolve around a partnership between eBay and GameStop to sell more collectible items like trading cards. GameStop has roughly 1,600 physical stores across the US, and Cohen has also spoken about creating a marketplace for digital gaming items through eBay. While eBay specializes in selling physical items like art and trading cards, Cohen added that video game in-game items were "massive," and eBay would be the perfect platform to sell them. This is just one of several options available to GameStop, according to people familiar with the matter, but it has declined to comment about its future plans. While GameStop hasn't succeeded yet in acquiring eBay, it does have a 9.8% stake in the ecommerce platform. The original offer made to eBay's shareholders was to purchase each share for $125--50% in cash and 50% in GameStop stock--but where GameStop would get the money to finance this remains a mystery. https://youtu.be/PeNclyAl9N4?si=cKAyYAHy66y1fOKw GameStop has a market cap of around $12 billion, while eBay is currently valued at almost $54 billion. Cohen said that he could secure $20 billion in debt financing from TD Bank, while GameStop had $9 billion in cash that could be used toward the acquisition. The rest of the cash would come from outside sources, with Middle East sovereign wealth funds reportedly being one of the sources. Cohen originally stood to receive a pay package worth approximately $35 billion if the deal went through, but he canceled this plan. "It's ultimately either going to be genius or totally, totally foolish," Cohen said earlier this year. “There are a lot of diamonds in the rough … that have sleepy management teams. I didn’t fix GameStop to stop there.” If he succeeded in purchasing eBay, Cohen said in previous comments that he'd follow his GameStop business playbook by cutting costs and expanding into live commerce further. This is something that eBay does offer through eBay Live, livestreams hosted on the site where sellers promote their products to potential consumers--similar to an old-school after-hours live infomercial.

GameStop Corp. may pull its $56 billion bid for EBay according to people familiar with the matter. GameStop CEO Ryan Cohen may instead propose a partnership. Bloomberg's Bailey Lipschultz reports. (Source: Bloomberg)

Game Over? GameStop CEO May Pull $56 Billion eBay Bid Anyone who took GameStop CEO Ryan Cohen's bid for eBay seriously should have reconsidered after his CNBC interview with Andrew Ross Sorkin in early May. When Sorkin pressed him on the basic math, Cohen failed to clearly explain how GameStop could finance the $56 billion deal or make the proposed cash-and-stock structure work. The interview raised more questions than it answered and pointed to the inevitable conclusion: the deal was never likely to happen from the start. Here's the most contentious part of Ryan Cohen's CNBC Squawk Box interview about the GameStop-EBAY acquisition. This is a HEATED back and forth, uncommon for financial news. $GME Sorkin, at one point is in disbelief at RC's repetitive answering to his question. pic.twitter.com/MWAbYWStlp — Reese Politics (@ReesePolitics) May 4, 2026 Fast-forward to Monday morning, when a new Bloomberg report citing people familiar with the matter said Cohen is considering withdrawing the $56 billion bid for the online marketplace. However, Cohen is not giving up on a potential partnership with eBay. He is reportedly considering proposing a partnership or joint venture that would allow eBay to utilize GameStop's roughly 1,600 US stores to expand in higher-margin categories such as trading cards and collectibles. GME shares have tumbled 28% since Cohen first offered to buy eBay in May. The $125 per share proposal consisted of 50% cash and 50% GameStop common stock. eBay shares closed Friday near $112 per share, commanding a market value of $49.8 billion. Including debt, eBay is valued at almost $54 billion. GameStop's market value stands at around $8.6 billion.  Cohen continued building the eBay stake, and as of July 15, owned 9.75%, making him the second-largest shareholder, only to Vanguard Group. Data compiled by Bloomberg shows that stake around 8.55%.  Cohen will likely use GameStop's stake as leverage, though which path he ultimately pursues from here remains to be seen. Tyler Durden Mon, 08/10/2026 - 12:00

GameStop is reportedly considering withdrawing its $56 billion proposal to acquire eBay. Instead, GameStop CEO Ryan Cohen is thinking about proposing a partnership or joint venture that would let eBay leverage the video game retailer’s 1,600 locations in the U.S., Bloomberg News reported Monday (Aug. 10), citing sources familiar with the matter. The sources said his arrangement could allow both […] The post GameStop CEO Could Withdraw $56 Billion Bid on eBay appeared first on PYMNTS.com.