GameStop Corp. Chief Executive Officer Ryan Cohen is raising money to help pay for his proposed $56 billion takeover of eBay Inc., one pair of socks at a time.
The move to sell a hodgepodge of items - on eBay, of course - has already racked up scores of bids totaling tens of thousands of dollars, including $7,500 for the socks. But it's unlikely to sway his skeptics who view GameStop's bid for a company four times its size as a nonstarter.
Earlier this week, GameStop offered $125 per share in cash and stock for online marketplace eBay. GameStop secured an initial, non-binding "highly confident letter" from TD Bank to provide about $20 billion of debt financing for the deal, but Cohen has still been peppered with questions about how he'll manage to pay for a deal. EBay has confirmed that it received GameStop's unsolicited offer and said that it will review it.
ALSO READ: GameStop Makes $56 Billion Bid for eBay, Four Times Its Size
The gaming retail chain made famous in the 2021 meme stock craze will need billions more to actually buy eBay, whose market value is now $48 billion.
Like many others in need of quick cash, Cohen's turned to eBay.com.
Beyond the socks, other sought after items include a pair of GameStop signs and what appears to be a life-sized Halo 2 statue, both of which are going for more than $10,000. Among the other goods for sale are vintage baseball cards including Willie Mays and an unopened package of Windows 2000 software.
Cohen promises that, as a thank-you gift for their purchase, buyers will get a hand-signed copy of the offer letter he sent to eBay's board, plus free shipping.
ALSO READ: Meme Stock To Tech Giant? GameStop Makes Massive $56B Play For eBay To Rival Amazon
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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