"GameStop made an unsolicited $56bn bid to acquire eBay, a company with a market value nearly four times higher than GameStop's worth of roughly $12bn."
"CEO Ryan Cohen argued he could replicate his cost-cutting playbook at GameStop to boost eBay's profitability, while tapping GameStop's approximately 1,600 US stores."
"GameStop claims it will achieve $2bn in annualised cost cuts within a year of the proposed transaction's closing, addressing eBay's high sales and marketing expenses."
GameStop has made an unsolicited offer of $56 billion to acquire eBay, which has a market value nearly four times higher than GameStop's. The deal would involve half cash and half stock, with GameStop already holding a 5 percent stake in eBay. CEO Ryan Cohen plans to implement cost-cutting measures to improve eBay's profitability and utilize GameStop's physical stores to compete with Amazon. GameStop aims to achieve $2 billion in annual cost reductions within a year of the deal's closing.
Read at www.aljazeera.com
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