GameStop Corp. (NYSE:GME) has launched a historic $56 billion takeover bid for e-commerce giant eBay Inc. (NASDAQ:EBAY), setting the stage for a dramatic corporate battle as CEO Ryan Cohen threatens a hostile approach if the board refuses to engage.

A ‘Massive’ David vs. Goliath Play

The video game retailer announced a formal proposal to acquire 100% of eBay for $125.00 per share, evenly split between cash and stock.

Chief Market Strategist Shay Boloor highlighted the staggering scale of the David-and-Goliath bid, pointing out that the offer is “massive relative to GameStop's ~$12B market cap.”

GameStop has already quietly built a 5% economic stake in eBay over the past three months and secured up to $20 billion in third-party acquisition financing from TD Securities to make the math work.

$GME is reportedly trying to buy $EBAY in a $56B cash-and-stock deal after building a ~5% stake.The offer would be massive relative to GameStop's ~$12B market cap and Ryan Cohen says he's ready to take it directly to shareholders if eBay pushes back. pic.twitter.com/2xQo64b0CL

— Shay Boloor (@StockSavvyShay) May 3, 2026

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