Video game retailer GameStop disclosed in a late Friday regulatory filing that it has accumulated ownership of nearly 10% of e-commerce company eBay — a development that comes about three months after GameStop made an unsolicited bid to purchase eBay for approximately $56 billion.
According to the filing, GameStop now holds 43.4 million outstanding shares of eBay, representing a 9.8% ownership stake. That figure represents a substantial jump from early May, when GameStop CEO Ryan Cohen informed eBay’s board chairman that the company had built up “a 5% economic stake” through derivatives and beneficial ownership.
The filing revealed that GameStop purchased 3.5 million eBay shares last month for approximately $381 million. On Friday, the company also settled 39 million eBay shares stemming from put/call pairs.
