GameStop rises as company seeks to pursue eBay despite rejection

eBay

29/06/2026 09:24

** GameStop GME.N rises 1.5% in premarket trading after reiterating it will pursue its proposed takeover of eBay EBAY.O despite rejection
** E-commerce firm eBay last month rejected the unsolicited cash-and-stock offer of about $56 billion from videogame retailer GameStop
** GameStop said it remains committed to acquiring eBay, a co about five times its size, though it did not disclose fresh details on strategy or next steps
** Co first surprised markets in May when CEO Ryan Cohen unveiled the unsolicited bid, pitching the tie-up as a way to better compete with Amazon
** Separately, GameStop forecast strong earnings, expecting fiscal 2026 adjusted EBITDA to exceed $600 million versus $345.4 million in fiscal 2025
** YTD, GME up 8.3%, whereas EBAY up ~24%

 (Reporting by Rashika Singh in Bengaluru)
 ((Rashika.Singh@thomsonreuters.com;))