GameStop Seeks Approval for 2.5 Billion Shares to Pursue eBay Bid

7 articles · Updated · Bloomberg · May 22

GameStop asked shareholders to authorize 2.5 billion common shares, a sharp increase aimed at supporting a bid for eBay.
A Friday securities filing said the company wants 2.505 billion authorized shares across all classes, signaling it may need far more stock capacity to finance the deal.
As of May 20, GameStop had 448.7 million common shares outstanding and more than 269 million still available for future issuance.
The request puts shareholder approval at the center of GameStop's takeover effort, with the expanded share pool giving it room to structure a much larger acquisition.

With its bid rejected and a huge funding gap, how can GameStop complete its $56 billion hostile takeover of eBay?

Is Ryan Cohen's bid for eBay a visionary move or a reckless gamble fueled by his meme-stock celebrity status?