GameStop pledges to pursue its takeover offer for eBay despite rejection

By Svea Herbst-Bayliss ‌and Jaspreet Singh

June ​26 (Reuters) - ​GameStop pledged on Friday to pursue its proposed takeover of eBay, even after the e-commerce ‌firm rejected an unsolicited cash-and-stock offer of about $56 ⁠billion from the videogame retailer.

The company also said in a ‌short regulatory filing that this ‌year's earnings will be strong, helping push up its stock price more than 2% in after-hours trading.

GameStop ​CEO Ryan Cohen surprised Wall Street with the offer to buy eBay in May, arguing a combined ⁠company would be a bigger competitor to Amazon and saying he would ​run it. EBay rejected it the same month.

The company said it was holding firm on ​plans to buy eBay, a company ‌roughly five times its size, but did not provide the details on Friday about ⁠its rationale and next steps.

GameStop said on Tuesday it would release additional materials regarding its plans for eBay this week, ⁠including a detailed presentation of the strategic rationale and operational plan ​for the combined company. On Friday, GameStop said, "additional materials regarding the proposed transaction are forthcoming."

An eBay spokesperson could not be immediately reached ‌for comment.

The company said it expects to generate 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.

(Reporting by ​Jaspreet Singh in Bengaluru and Svea Herbst-Bayliss in New York; Editing by Anil D'Silva, Rod ‌Nickel)

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