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GameStop seeks to increase authorized shares, continuing to pursue the acquisition of eBay
BlockBeats news, May 24 — Retail video game and collectibles retailer GameStop (GME) filed a document with the SEC, asking for shareholder approval to increase the authorized number of common shares from the current 1 billion shares to 2.5 billion shares to improve financial flexibility. The proposal is one of five to be voted on at the annual shareholder meeting to be held in July.
This move could give the company more leverage in its acquisition of eBay, which had previously been rejected.