"Cohen stated that GameStop would cut $2 billion of eBay's annualized costs within 12 months of close, resulting in an increase in the company's earnings per share."
"Cohen expressed that putting eBay and GameStop under one roof would create huge opportunities to improve earnings and cut costs, suggesting it could be a legit competitor to Amazon."
"Cohen emphasized, 'Ebay should be worth - and will be worth - a lot more money,' indicating his vision for transforming eBay into something worth hundreds of billions of dollars."
GameStop has proposed to acquire eBay for approximately $56 billion, offering $125 per share in a cash-and-stock deal. CEO Ryan Cohen is willing to take the bid directly to shareholders if eBay's board does not respond favorably. GameStop has already acquired a 5 percent stake in eBay. Cohen believes that merging the two companies could significantly enhance earnings and reduce costs, potentially positioning them as a competitor to Amazon. He aims to increase eBay's value substantially, targeting a worth in the hundreds of billions.
Read at Gadgets 360
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