Catenaa, Monday, June 29, 2026– GameStop said Friday it remains committed to acquiring eBay despite the e-commerce company’s rejection of its unsolicited takeover offer.
It projects an adjusted EBITDA for fiscal year 2026, which closes January 30, 2027, is projected to surpass $600 million, a significant jump from the $345.4 million GameStop posted in fiscal year 2025.
GameStop stock rose more than 1% on Monday, following the news report.
Friday’s short regulatory filing reiterated the company’s commitment to pursuing the eBay deal, noting that further documentation related to the proposed transaction will be released in the coming days.
Beyond affirming its intent, GameStop offered no explanation of how it plans to move the deal forward, Reuters reported.
GameStop had previously said it planned to release a detailed presentation this week laying out the strategic rationale and operational plan for combining the two businesses.
GameStop CEO Ryan Cohen put forward a non-binding proposal in May to buy all of eBay’s outstanding shares at $125 apiece, split evenly between cash and GameStop stock, placing eBay’s equity value at roughly $55.5 billion.
Cohen pointed to approximately $9.4 billion in GameStop’s cash reserves and up to $20 billion in debt backed by a commitment letter from TD Securities to fund the deal.
He said he envisioned leading the merged company as chief executive while forgoing salary and cash bonuses.
Calling the proposal “neither credible nor attractive,” eBay’s board turned it down, raising objections that included questions about how the deal would be financed, how the combined company would be run, and the structure of Cohen’s compensation.
GameStop, with a market value of roughly $10 billion, is attempting to acquire a company approximately five times its size, a gap that has drawn skepticism from investors and analysts about where the remaining funding would come from.
A January bonus arrangement worth up to $35 billion, contingent on hitting milestones that included pushing GameStop’s market capitalization to $100 billion, was scrapped at Cohen’s request earlier this week.
GameStop said at the time that when its board approved the pay plan, the company had not yet decided to pursue eBay.
Separately, remarks Cohen made during a podcast appearance suggested he may personally inject $500 million into the deal, though that figure would address only a fraction of the overall financing shortfall, CNBC noted.
As of Friday’s filing, GameStop directly holds 4,343,725 shares of eBay common stock and has entered into derivatives arrangements providing economic exposure to a further 39,046,658 shares, the company said.
