GameStop Proposes $56B Cash-Stock Offer for eBay

GameStop made an unsolicited $56 billion offer to acquire eBay at $125 per share, a ~20% premium.
The proposal consists of 50% cash and 50% GameStop stock, funded by cash and a $20 billion debt commitment from TD Securities.
GameStop, holding about a 5% stake in eBay, pledges $2 billion annual cost reductions within 12 months post‑closing.
CEO Ryan Cohen will lead the combined firm and is ready to launch a proxy fight if eBay resists.