India, May 4 -- Shares of eBay Inc. were gaining around 9% in pre-market activity on Nasdaq after electronics retal company GameStop Corp. announced a non-binding proposal to buy the e-commerce major in a cash and stock deal, with equity value of $55.5 billion.
GameStop announced late Sunday that it has submitted the proposal at $125.00 per share, comprising 50 percent cash and 50 percent GameStop stock, with full shareholder election rights as to consideration type and pro-rata allocation.
The offer represents a 46 percent premium to eBay's unaffected closing price on February 4, 2026, the day GameStop started accumulating its position in eBay. GameStop now holds a 5 percent economic stake in eBay through derivatives and beneficial owner...