GameStop presses ahead with bid for eBay despite rejection

GameStop said overnight that it is still pursuing its bid to buy eBay, even after the online marketplace rejected an unsolicited cash-and-stock offer valued at about $56 billion. Reuters reported the update. The company also said in a brief regulatory filing that it expects strong earnings this year, a disclosure that pushed its shares up more than 2% in after-hours trading in New York.

GameStop chief executive Ryan Cohen startled Wall Street in May when he unveiled the takeover proposal, arguing that a combined company would be a stronger rival to Amazon and saying he would lead it himself. eBay rejected the offer later that month. GameStop said now that it stands behind the plan to acquire eBay, a company roughly five times larger than GameStop, but it did not give further details overnight on the strategic rationale or next steps.

On Tuesday, GameStop said it would later this week release additional materials about the proposed deal, including a detailed presentation laying out the strategic logic and operating plan for the combined company. On Wednesday, it said more materials on the proposed transaction were expected to be published. An eBay spokesperson was not immediately available for comment.

Separately, GameStop said it expects adjusted earnings before interest, taxes, depreciation and amortization of more than $600 million in fiscal 2026, compared with $345.4 million reported in fiscal 2025.