finance
Ryan Cohen Proposes $56 Billion Acquisition of eBay
GameStop CEO Ryan Cohen proposed a $55 billion to $56 billion bid to acquire eBay but was permanently suspended from the platform. TD Bank expressed high confidence it could raise $20 billion for the deal, which still faces a $16 billion gap. The unsolicited offer drew scrutiny at the Milken Institute Global Conference in Beverly Hills.
May 6, 4:27 PM·2m read6 sources
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Ryan Cohen, CEO of GameStop, proposed a $56 billion acquisition of eBay and was permanently suspended from the platform two days later. " The company later confirmed the suspension was permanent. GameStop has a market value of $12 billion.
Cohen's unsolicited bid valued at $55 billion according to one report would see the meme-stock survivor attempt to buy the much larger e-commerce company. The offer remains short $16 billion even after accounting for financing assurances. TD Bank issued a letter stating it is "highly confident" it can raise $20 billion for Ryan Cohen's bid for eBay.
The letter, a familiar instrument at finance conferences, echoes tactics used in past deals but leaves a substantial gap in the proposed purchase price. The Milken Institute Global Conference took place in Beverly Hills the week of May 4, 2026. Cohen's bid landed at the event, long known as a gathering where ambition often outpaces arithmetic, according to reporting published May 6, 2026.
Cohen gave an evasive CNBC interview that left investors questioning his latest move. A once-loyal supporter sold his GameStop shares after Ryan Cohen's eBay bid. The sequence began with the proposal, followed swiftly by the suspension.
Cohen himself announced the suspension via social media, noting it occurred just two days after his $56 billion offer. eBay's action effectively barred him from the site he sought to acquire. Questions about the bid's viability surfaced quickly.
Even with the TD Bank commitment, the financing falls short by $16 billion, a gap highlighted during morning television coverage that included noticeable dead air as hosts processed the numbers. Acquiring a company many times its size would require far more capital than currently assured, a reality that hung over discussions at the Beverly Hills conference.
The "highly confident" letter from TD Bank fits a pattern established decades earlier at similar gatherings. Such assurances, while not binding commitments, have long served to signal serious intent in deals where full financing is not yet in place. Investor reaction proved mixed.
