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GameStop owns 9.8% of eBay, SEC filing reveals

Created at 17 Jul · 11:14 PM1 source↑ Market-relevant
IN SHORT

GameStop disclosed in a regulatory filing that it owns 9.8% of eBay, a significant increase from its previously stated 5% stake. This comes months after GameStop made an unsolicited offer to acquire eBay for approximately $56 billion.

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Key Numbers

9.8%GameStop's ownership stake in eBay
43.4 millioneBay shares owned by GameStop
5%Previous economic stake disclosed by GameStop
$56 billionGameStop's unsolicited offer for eBay
3.5 millioneBay shares purchased by GameStop last month
$381 millionCost of 3.5 million eBay shares
39 millioneBay shares settled from put/call pairs

Who's Involved

GameStop
Videogame retailer disclosing eBay stake
eBay
E-commerce company in which GameStop disclosed a stake
Ryan Cohen
GameStop CEO who previously disclosed a 5% stake

↳ Why This Matters

The increased stake by GameStop in eBay, following an unsolicited acquisition offer, signals continued strategic interest and potentially escalates pressure on eBay's board. This move could impact eBay's stock performance and strategic decisions.

Key facts

  • GameStop now owns 9.8% of eBay, according to a regulatory filing.
  • The stake comprises 43.4 million outstanding shares of eBay.
  • This ownership level is a substantial increase from a previously disclosed 5% stake.
  • GameStop acquired 3.5 million eBay shares for $381 million in the past month.
  • The company settled 39 million eBay shares from put/call pairs on Friday.

Videogame retailer GameStop disclosed in a regulatory filing late on Friday that it owns 9.8% of e-commerce company eBay. The stake amounts to 43.4 million outstanding shares, a significant increase from the 5% economic stake GameStop CEO Ryan Cohen had previously announced in early May.

GameStop's filing comes nearly three months after the company made an unsolicited offer to buy eBay for approximately $56 billion. In the past month, GameStop purchased 3.5 million eBay shares for roughly $381 million. The company also stated that it settled 39 million eBay shares from put/call pairs on Friday.

Frequently asked questions

GameStop disclosed in a regulatory filing that it owns 9.8% of eBay.

GameStop owns 43.4 million outstanding shares of eBay.

GameStop CEO Ryan Cohen previously announced an accumulated 5% economic stake through derivatives and beneficial ownership in early May.

Yes, GameStop made an unsolicited offer to buy eBay for roughly $56 billion approximately three months prior to this filing.

What Happens Next

01Further regulatory filings may detail GameStop's ongoing strategy regarding its eBay stake.
02eBay's board may respond to GameStop's increased ownership and prior acquisition interest.

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Cadence
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  • S&P 500 futures fell toward monthly lows on expiration Friday.
    17 Jul · 8:48 PM
  • S&P 500 futures fell toward monthly lows on expiration Friday.
    17 Jul · 8:48 PM
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    17 Jul · 6:28 PM

How It Developed

GameStop disclosed ownership of 9.8% of eBay in a regulatory filing.
The stake amounts to 43.4 million outstanding shares of eBay.
This represents a significant increase from an early May disclosure of a 5% economic stake.
GameStop purchased 3.5 million eBay shares for $381 million last month.
The company settled 39 million eBay shares from put/call pairs on Friday.

Sources

T1
GameStop owns nearly 10% of eBay, SEC filing showsReuters

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