eBay Suspends GameStop CEO Ryan Cohen After He Seeks Funds for $56 Billion Bid
eBay has suspended GameStop Chief Executive Officer Ryan Cohen as a customer after he sought to raise money for his proposed $56 billion takeover of the marketplace by selling assorted items on the platform. eBay said the account was permanently suspended for "putting the eBay community at risk," an unusual step two days after Cohen's bid became public.
Cohen has been pursuing a half-cash, half-stock offer for eBay valued at $56 billion. He previously said GameStop had a highly confident bank letter for $20 billion and $9 billion of cash to support the deal, while arguing that GameStop's 1,600 stores could help authenticate collectibles sold on eBay and that roughly $2 billion of costs could be cut from the combined business.
From the sources (19 posts)
@businessGameStop is offering to buy eBay for cash it doesn’t have, and also for stock it doesn’t have. (via @opinion)
@unusual_whalesGameStop, $GME, is down 9% today following its offer to purchase eBay, $EBAY.
@cnbcTraders are doubtful Cohen's GameStop can pull off monster eBay acquisition
@unusual_whaleseBay, $BAY, is up more than 5% after GameStop, $GME, offer.
@zerohedge*GAMESTOP SHARES CLOSE DOWN 10%, EBAY CLIMBS 5.1% TO RECORD
@wsjGameStop is preparing a takeover offer for the online marketplace eBay. If the videogame retailer succeeds, it won’t be buying your dad’s eBay.
@wsjGameStop CEO Ryan Cohen says he sees a path to make eBay a much bigger competitor to
@theinformationGameStop CEO Ryan Cohen made a $56 billion bid for eBay despite unclear financing and a volatile stock currency. The deal faces steep odds, even as the companies share a rare growth driver in collectibles and similar struggles to expand t
@tbpnFULL INTERVIEW: $GME CEO @ryancohen joins TBPN to discuss the eBay acquisition 00:22 Unpacking "half cash, half stock" 02:07 Ryan's vision for eBay 04:36 Live commerce and eBay 05:12 Why he's the best person to buy eBay 06:29 History of c
@tbpn$GME CEO @ryancohen unpacks "half cash, half stock": "We have the cash accounted for today, in terms of a highly confident letter from our bank for the $20 billion. Plus we've got $9 billion of cash." "What we're proposing is for existing
@tbpn"I want to own eBay forever. I love that business. It's run like a public utility. It should have been wiped out. But it hasn't been." $GME CEO @ryancohen explains what he wants to do with eBay, and why he wants to buy it: "Where we've ha
@tbpn"There's 11,500 employees. It doesn't make sense. I could run that business from my house. It's eBay, it looks the same as it did in 1995. It doesn't need 11,500 employees." $GME's @ryancohen makes his case for why he's the best person to
@tbpn"The goal here isn't to be an activist. I want to own eBay. I want to run eBay. I want that to be my baby." $GME CEO @ryancohen: "When I think about what I can do with eBay...look at Chewy. eBay is like Chewy on steroids. There's so much
@tbpn"They hate me. They're not happy about this. After this interview, they're really not going to like me." $GME's @ryancohen explains why he already knows eBay and its Board are going to fight the acquisition:
@tbpn$GME's @ryancohen says eBay's management team isn't "operating like owners" "Equity's given out to [them] like candy..." "The Board of Directors makes $4 million — $350,000 to $400,000 per director." "There's been no insider buying at th
@businessGameStop CEO Ryan Cohen is raising money to help pay for his proposed $56 billion takeover of eBay by selling a hodgepodge of items on the platform
@kobeissiletterBREAKING: GameStop, $GME, CEO Ryan Cohen announces he has been suspended from eBay just 2 days after proposing a $56 billion acquisition of the company. eBay says Cohen's account has permanently suspended for "putting the eBay community at
@bulltheoryioWHAT IS EVEN HAPPENING 🚨 eBay just permanently banned GameStop CEO Ryan Cohen after he joked about selling items to fund his $56 billion takeover bid for the company.
@exec_sumGameStop CEO Ryan Cohen has been suspended as a customer of eBay He is currently pursuing an acquisition of eBay