GameStop owns nearly 10% of eBay, SEC filing shows
Complete. Here is the key summaryGameStop disclosed in an SEC filing that it owns nearly 10% of eBay, holding 43.4 million shares (9.8%). This marks a significant increase from its 5% stake reported in May and follows an unsolicited $56 billion acquisition offer made three months prior. The company recently purchased 3.5 million shares for approximately $381 million and settled 39 million shares via put/call pairs.
July 17 : Videogame retailer GameStop owns nearly 10 per cent of e-commerce company eBay, the company said in a regulatory filing late on Friday, nearly three months after making an unsolicited offer to buy eBay for roughly $56 billion. GameStop said it owns 43.4 million outstanding shares of eBay, or 9.8 per cent, marking a dramatic increase in ownership from early May when GameStop CEO Ryan Cohen told eBay's board chairman "we have accumulated a 5 per cent economic stake" through derivatives and beneficial ownership. GameStop bought 3.5 million eBay shares for roughly $381 million last month and said it settled 39 million eBay shares from put/call pairs on Friday.