(File Photo: Source for Photo: FILE – In this Jan. 28, 2021, file photo, pedestrians pass a GameStop store on 14th Street at Union Square, in the Manhattan borough of New York. GameStop says it’s selling up to 3.5 million of its shares, a move that will allow the video-game retailer to take advantage of the big surge in its stock price this year. The company said the shares will be sold through an “at-the-market” offering, which lets a publicly traded company raise capital over time by offering securities into the already existing trading market. (AP Photo/John Minchillo, File)

Noah Haswell, Beaver County Radio News

(Grapevine, TX) GameStop has made a $55.5 billion offer to acquire eBay, a move that would give the retailer control of the long-running online marketplace.

Under the proposal, GameStop said Sunday it is offering $125 per share in a mix of cash and stock. The company, based in Grapevine, Texas, already holds about a 5% stake in eBay.

GameStop CEO Ryan Cohen said in a letter to eBay’s board chairman that TD Securities has committed $20 billion to help finance the deal.

eBay said Monday it will “carefully review and consider the unsolicited proposal” to determine what is in the best interests of the company and its shareholders.

The Wall Street Journal, which first reported the offer, said Cohen may pursue a hostile bid if the proposal is rejected.