eBay shares rose sharply after GameStop unveiled an unsolicited $56 billion (£41.2 billion) takeover offer, in one of the most unexpected corporate moves of the year.

The bid, confirmed by GameStop chief executive Ryan Cohen, has triggered investor speculation over whether the deal can realistically succeed and whether it could reshapecompetition with Amazon.

eBay's stock climbed in after-hours trading following reports that GameStop has made an unsolicited offer to acquire the online marketplace foraround $125 (£92) per share. The offer represents a premium of roughly 20% above eBay's most recent closing price, prompting an immediate surge in investor interest.

GameStop shares also moved higher as traders reacted to the takeover offer. Market sentiment has been driven largely by speculation surrounding the proposed acquisition, with analysts warning that volatility may persist as further details of the deal emerge.

GAMESTOP OFFERING TO BUY EBAY FOR $125 A SHARE (per WSJ)Cohen took GameStop from 14,000 employees in 2020 to 4,000 in 2026.Expect DEEP cuts at eBay if this goes through.pic.twitter.com/0fi21e4zYU

Just paying a cool 4x what it was worth 3 years ago when the stock is at its all time high. Crazy move... Sat on billions in the bank when EBAY was cheaper just to move after it 4x'spic.twitter.com/RP9Kd3Xt8u

According toThe Wall Street Journal, GameStop chief executive Ryan Cohen has proposed an unsolicited offer to acquire eBay in a deal valued at approximately $56 billion (£41.2 billion). The company has already built a roughly 5% stake in eBay ahead of the bid, signalling a longer-term strategic position.

The financing structure includes a reported $20 billion (£14.7 billion) debt commitment from TD Bank, alongside GameStop's existing cash reserves of around $9 billion (£6.6 billion). However, a significant funding gap remains, raising questions over how the full acquisition would be completed.

eBay, which was valued at around $46 billion (£33.8 billion) before the news broke, has not publicly responded to the offer at the time of writing.

Cohen wants to position eBay as a 'legit competitor to Amazon' and believes the company could be worth significantly more, potentially reaching a valuation in the hundreds of billions.

Source: International Business Times UK