Cohen Drops $35B Bonus Plan, Nearly Doubles eBay Stake to 10% in Hostile Bid Push

summarizeSummary

GameStop CEO Ryan Cohen withdrew his $35 billion bonus plan, nearly doubled his eBay stake to 10%, and is canvassing investors, signaling a direct appeal to shareholders in his hostile $56 billion bid.

check_boxKey Events · M&A and Partnerships · GME

• Cohen Withdraws $35B Bonus Plan

  Ryan Cohen withdrew the performance-based bonus plan that could have paid him up to $35 billion, addressing a key criticism from eBay's board and removing a major obstacle to the deal.

• Stake Nearly Doubled to ~10%

  GameStop has almost doubled its economic exposure to eBay, now holding nearly 10% of outstanding shares, following the recent exercise of Put/Call Pairs and additional purchases.

• Advisory Team Reshuffled

  Cohen has reassembled the legal and public relations team that helped him seize control of GameStop, signaling a more aggressive and experienced approach to the hostile bid.

• Investor Canvassing Underway

  Cohen is canvassing the opinions of some of eBay's largest investors, a potential prelude to taking the offer directly to shareholders or launching a proxy fight.

auto_awesomeAnalysis · GME · Trade & Services

GameStop CEO Ryan Cohen is turning his hostile pursuit of eBay into a multi-front campaign with concrete tactical moves. By withdrawing the controversial $35 billion bonus plan that eBay's board had criticized, he removes a key obstacle. GameStop has nearly doubled its economic stake to almost 10% of eBay shares, and Cohen has reshuffled his advisory team to the group that helped him seize control of GameStop. He is now canvassing eBay's largest investors and signaling he may take the offer directly to shareholders. These actions transform the bid from a long-shot meme into a serious campaign that could force eBay's board to engage or face a proxy fight.