GameStop is preparing to make an offer for eBay as part of a broader strategy led by CEO Ryan Cohen to revitalize the struggling video-game retailer.
Cohen, an e-commerce entrepreneur, is pursuing plans to boost GameStop's market value more than tenfold. His goal is to transform the company into a juggernaut valued at over $100 billion.
GameStop has been building a position in the online auctioneer and plans to make an offer for the business this month. In response to the news, eBay shares jumped more than 13% in after-hours trading on Friday.