> EBIZ NEWS: GameStop Preparing Offer for eBay

GameStop is preparing to make an offer for eBay according to people familiar with the matter, part of CEO Ryan Cohen’s audacious plan to turn the retailer into a $100-billion plus juggernaut.

GameStop, which had a market value of around $11 billion as of Friday’s close, has been quietly building a stake in eBay’s shares ahead of a potential offer, the people said. EBay is several times GameStop’s size, with a market value around $45 billion as of Friday’s close.

EBay’s shares jumped over 10% after-hours Friday after The Wall Street Journal reported on GameStop’s plans, while GameStop’s rose around 5%.

GameStop could submit an offer for eBay as soon as later this month, the people said, assuming the retailer proceeds as planned.

If eBay isn’t receptive, Cohen could decide to take the offer directly to eBay’s shareholders, one of the people added. Details of the potential offer for eBay couldn’t be learned.