GameStop CEO Ryan Cohen made an unsolicited $56 billion offer to acquire eBay, aiming to transform the online marketplace into a legitimate competitor to Amazon. Cohen revealed the surprise bid in a Wall Street Journal interview, stating eBay "should be worth—and will be worth—a lot more money." The move represents Cohen's latest ambitious strategy to reshape GameStop beyond its video game retail roots.

GameStop has built a roughly 5% stake in eBay and offered $125 per share in cash and stock, representing a 20% premium to eBay's closing price. The company secured a commitment letter from TD Bank to provide up to $20 billion in debt financing to support the potential acquisition. eBay has not yet responded to the unsolicited bid.

Cohen envisions turning eBay into a company "worth hundreds of billions of dollars," potentially disrupting Amazon's dominance in e-commerce. The bid comes as GameStop continues its transformation under Cohen's leadership, who previously orchestrated the company's shift toward digital assets. eBay shares rose on news of the potential acquisition.