Ryan Cohen is foregoing a $35 billion CEO performance award tied to GameStop stock to pursue a $55.5 billion bid for eBay, offering half cash and half stock. Despite Cohen’s confidence, eBay’s board rejected the offer as not credible or attractive, highlighting the large valuation gap—eBay’s market cap is about five times GameStop’s. GameStop’s improving financials and cash reserves support Cohen’s bid, but critics like Michael Burry and Steve Eisman warn the deal’s structure and debt risk make it unlikely. Cohen has increased his eBay stake to 7.8% and may push for a proxy fight if the board resists, while the market prices in dilution risk and doubts about the acquisition.
GameStop CEO Ryan Cohen has scrapped a $35 billion pay package tied to hitting performance targets to concentrate on his $56 billion bid to acquire eBay. Despite eBay's rejection of the offer and skepticism over how a $10 billion company like GameSto...
GameStop has dropped a $35 billion performance bonus plan for CEO Ryan Cohen, who requested the removal to focus on the company's operations and its $56 billion unsolicited bid for eBay. The bid has faced strong rejection from eBay's board, citing fi...
Ryan Cohen, CEO of GameStop, is pursuing a hostile takeover of eBay despite the board's rejection of his $55.5 billion offer. Cohen has increased GameStop's stake in eBay to about 7.8% and is prepared to escalate his bid, aiming to transform eBay int...
Alphabet (GOOGL) will replace Verizon (VZ) in the Dow Jones Industrial Average on June 29, marking a shift towards AI-focused companies in the index. This change increases the Dow's exposure to major tech firms, including five of the 'Magnificent Sev...
