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GameStop considers eBay partnership as $55.5 billion bid falters
GameStop is said to be exploring a tie-up that would use its 1,600 US stores to grow higher-margin categories such as trading cards and collectibles, while the company already holds 9.75% of eBay.
GameStop is weighing alternative plans to its $55.5 billion takeover approach for eBay, with Bloomberg reporting that the video game retailer is considering a partnership or joint venture rather than pushing forward with the cash and stock deal.
According to the report, GameStop made an unsolicited, non-binding offer in May to acquire eBay at $125 per share, but eBay’s board rejected it the same month as neither credible nor attractive. One option being examined would have the two companies work together to expand market share in higher-margin categories, including trading cards and collectibles, using GameStop’s network of 1,600 US stores.
The sources also said GameStop would seek board representation at eBay as a large shareholder, and that no final decision has been made. GameStop previously built a 5% stake in eBay and has continued increasing it, reaching 9.75% as of 15 July, which the report says is the second-largest position after funds managed by Vanguard Group.
The report added that Scion Asset Management head Michael Burry disclosed he exited his entire GameStop position after the eBay bid announcement, citing concerns about the level of debt GameStop might need to take on to fund the acquisition. It noted eBay’s second-quarter revenue of $3.13 billion and 15% year-over-year growth in gross merchandise volume to $22.39 billion for the three months ended 30 June 2026.