How GameStop went from struggling retailer to eBay bidder

Earlier this month, GameStop offered to buy eBay for about $55.5 billion. GameStop CEO Ryan Cohen, who previously led pet marketplace Chewy, told The Wall Street Journal that GameStop had built a roughly 5% stake in eBay and had a commitment of up to $20 billion in financing from TD Bank. If eBay isn’t receptive, Cohen said he was prepared for a proxy fight, according to the outlet. “I’m thinking about turning eBay into something worth hundreds of billions of dollars,” Cohen told the Journal. “It could be a legit competitor to Amazon.” Continue reading this article on modernretail.co. Sign up for Modern Retail newsletters to get the latest on the shifting dynamics between retail’s old and new guards.