GameStop is considering withdrawing its $56 billion takeover offer for eBay Inc. CEO Ryan Cohen is reportedly weighing a strategic pivot toward a partnership or joint venture. The proposed alternative would leverage GameStop’s 1,600 U.S. retail locations to target high-margin collectibles.
GameStop shares have declined 28% since the offer was made in May. EBay shares have gained 7.6% over the same timeframe. EBay’s board previously rejected the unsolicited $125-per-share offer as neither credible nor attractive.
GameStop currently holds a 9.75% stake in eBay. This position makes GameStop the second-largest shareholder in the e-commerce company. No final decision has been made, and representatives for both companies have not commented on the report.