GameStop Offers to Buy eBay for $56 Billion

GameStop GME 6.33%increase; green up pointing triangle Chief Executive Ryan Cohen made an unsolicited offer to buy eBay EBAY 0.57%increase; green up pointing triangle for about $56 billion and said he saw a path to make the e-commerce company a much bigger competitor to Amazon.com AMZN 1.21%increase; green up pointing triangle.

Cohen told The Wall Street Journal on Sunday that GameStop built a roughly 5% stake in eBay and was offering $125 a share in cash and stock, a roughly 20% premium to its closing price on Friday.