GameStop CEO “Raises $56 billion by selling socks” to acquire eBay, scaring eBay into permanently disabling accounts

May 7 news: In the U.S., video game retailer GameStop CEO Ryan Cohen posted on a social platform that his eBay account has been disabled.
According to the screenshot he disclosed, his eBay account was permanently disabled due to behavior that could potentially threaten the safety of the eBay community.
This month, GameStop has already submitted an unsolicited acquisition offer to eBay with a total value of about $56 billion (equivalent to about RMB 3,821.87 billion at the current exchange rate).
Cohen is raising funds for his proposed acquisition plan, and the method he uses is to sell items on the eBay platform “pair by pair of socks”—with even one pair of socks fetching $7,500 (equivalent to about RMB 51,186 at the current exchange rate). It seems eBay is really afraid that he’ll sell socks and quickly raise enough money to buy itself! After all, this guy’s power with retail investors is too terrifying—back then, how many Wall Street bigwigs who refused to believe him were driven into bankruptcy by GameStop.
GameStop CEO Ryan Cohen previously said that his company already holds a 5% stake in eBay. The acquisition offer this time is $125 per share, about a 20% premium over Friday’s closing price, and can be paid with cash and stock. If eBay isn’t interested in the acquisition, he will launch a proxy fight to directly present the acquisition plan to eBay shareholders.
At present, GameStop has obtained a $20 billion debt financing commitment letter from TD Bank. The company may also seek support from external investors to complete the acquisition, including Middle Eastern wealth funds. $BNB
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