GameStop CEO Ryan Cohen is considering withdrawing a $56 billion bid for eBay in favor of a commercial partnership, Bloomberg News reported on Monday. The proposal under consideration would reportedly replace the acquisition attempt with a strategic agreement between the two companies.
The news follows a period of tension between the two firms after eBay rejected an unsolicited $56 billion takeover offer from GameStop. In July, GameStop disclosed through an SEC filing that it had increased its stake in eBay to 9.8%, making it one of the e-commerce company's largest shareholders. At that time, Cohen stated he would pursue a deal "one way or another."
Under the potential partnership, eBay would utilize GameStop’s approximately 1,600 retail locations in the United States to expand market share in high-margin categories, including collectibles and trading cards. As part of these negotiations, GameStop is also seeking seats on eBay's board of directors. Reuters reported that GameStop did not immediately respond to requests for comment, and eBay could not be reached.
For the retail market, the scale of this proposal involves a $56 billion valuation and the potential integration of 1,600 physical storefronts with a global e-commerce platform. If the partnership is finalized, consumers may notice changes in how they buy, sell, or pick up high-value items like trading cards, potentially using GameStop’s physical locations as hubs for eBay transactions. The move signals a shift in strategy for Cohen, who initially sought a full acquisition of the significantly larger e-commerce firm.
The knock-on effects could influence how traditional brick-and-mortar retailers collaborate with online marketplaces to compete in specialized hobby markets. A formal withdrawal of the bid would end a high-stakes takeover attempt, though the pursuit of board seats indicates GameStop intends to maintain influence over eBay’s operations. As of Monday, no final decision has been announced, and no specific dates for a vote or formal withdrawal have been reported.