On Friday, GameStop Corp. (NYSE:GME) said it remains committed to acquiring eBay Inc. (NASDAQ:EBAY) despite the e-commerce company’s rejection of its unsolicited proposal.
GameStop Reaffirms Commitment To eBay Acquisition
In a regulatory filing, GameStop said its “leadership team remains focused on advancing the proposed acquisition of eBay” and added that “additional materials regarding the proposed transaction are forthcoming.”
eBay did not immediately respond to Benzinga’s request for comments.
The renewed commitment follows GameStop CEO Ryan Cohen’s surprise proposal in May to acquire eBay, a company roughly five times larger by market value.
Cohen has argued that combining the two businesses would create a stronger competitor to Amazon.com, Inc. (NASDAQ:AMZN) and previously indicated he would lead the merged company.
GameStop Forecasts Stronger 2026 Earnings
Alongside its acquisition update, GameStop projected adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of more than $600 million for fiscal 2026, up from $345.4 million reported in fiscal 2025.
Earlier this month, GameStop reported the most profitable quarter in its history, posting net income of $389.6 million on revenue of $835.3 million, a 14% increase from a year earlier.
Price Action: GameStop shares closed up 3.57% at $21.76 on Friday and gained another 1.96% to $22.19 in after-hours trading, according to Benzinga Pro.
According to Benzinga Edge Rankings, GameStop is in the 96th percentile for Growth, despite posting negative returns over the short, medium and long term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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