Mergers and Acquisitions
“It’s gonna be really big. Really big. Very, very, very big.”
Summary
- In a January 2026 interview with CNBC , Ryan Cohen publicly revealed that GameStop intends on carrying out a transformational acquisition
- While there has been much speculation about the potential targets, it is not publicly known which companies GameStop is looking at
- Investment bankers that discussed this with CNBC have expressed skepticism towards this "herculean task"
- Potential mergers and / or acquisitions represent a component of the reinvention phase of GameStop
- In May 2026, GameStop formally proposed an offer to acquire eBay
Transformation and Reinvention
“It’s gonna be really big. Really big. Very, very, very big.”
...
“It’s similar to Berkshire Hathaway, except what Berkshire did in decades we’re attempting to do in a much shorter time in terms of creating that much value.”
“We can go in there and apply the Chewy and [GameStop] mindset of like brutal efficiency and increase the profitability of the company very, very quickly and so we could capture a lot more value by focusing on this under optimized asset, and then eventually we could move on to the next one, but, you know, we’ll see what happens.”
GameStop CEO Ryan Cohen
eBay
In May 2026, GameStop formally proposed an acquisition of eBay.
- On May 3, 2026, GameStop formally proposed to purchase eBay for approximately $56 billion
- On May 12, 2026, eBay formally rejected the proposal, calling it ‘neither credible nor attractive.’
“The more [eBay] fights me, the more . . . I’m not going to take no for an answer. I’m not going away. I’m a pain in the ass.”
GameStop CEO Ryan Cohen
