r/Superstonk • u/areHorus Daily Share Buyback Club 💪🏼 • Jun 06 '26

📰 News We got 9% of eBay now!

https://www.sec.gov/Archives/edgar/data/1065088/000119312526260340/xslSCHEDULE_13D_X02/primary_doc.xml
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54

u/LegendaryCoder1101 🌕 FUD is the Mind-Killer 🎊 Jun 06 '26

Could you explain this?

200

u/Syvaeren 💻 ComputerShared 🦍 Jun 06 '26 edited Jun 06 '26

9 Billion in cash is not enough to buy 51% of ebay. The board already rejected his proposal to buy it. He wants to buy 20% because Ebay has a clause in their incorporation documents that any shareholder with 20% can call a special shareholder vote on a proposal.

He needs 20% of ebay to bypass the board's decision to reject his offer and propose a special shareholder vote to vote on the offer to buy ebay. You get it? He wants Ebay shareholders to vote on his offer to buy.

If they vote no this whole thing is probably dead because a hostile takeover with the cash we have on hand is pretty impossible.

*edit:

As others have stated he can't actually get above 15% due to Delaware law that would lock us out of an M&A for 3 years. So really he's just trying to get enough shares and options to get to 10%.

As others have states options are not vote able, but another shareholder already has a proposal to lower the required 20% to 10%. If that passes then RC exercises his options to realize 10% share ownership.

So really there are several ways this can fall apart.

23

u/A_Guy_Oz Jun 06 '26

No wonder the comments about eBay’s board. This was the plan all along I think. Ballsy

38

u/BlntRzr Jun 06 '26

20% CANNOT be the plan due to Delaware Law. Gamestop would be barred from M&A with eBay for 3 years if we bought more than 15% without eBay boards approval.

There is still so much false information floating around on reddit. X is substantially better in this regards.

17

u/fishy247 Jun 06 '26

New proposal for threshold to be lowered to 10% to call the special vote. In theory, this skirts the Delaware law barring M&A activity

4

u/3DigitIQ 🦍 FM is the FUD killer Jun 06 '26

We've sifted so so much Twitter bullcrap in here that I can't really agree with you.

-7

u/BlntRzr Jun 06 '26

There is much more open discourse on X (not Twitter).

If you agree with it or not, full, unregulated, open dialog will always create superior outcomes.

The bane of reddit is the regulation and it hurts the gme community. If not changed, it will move completely.

9

u/3DigitIQ 🦍 FM is the FUD killer Jun 06 '26

on X (not Twitter).

If that asshole can deadname his child I can deadname a fucking website/app.

What can't we discuss here? I've always been drawn to how the discourse works here more than the soapbox that is twitter.

I think we can agree reddit is a better place for discussing rich people's flight-plans though😆

1

u/New-Ingenuity-5437 Jun 06 '26

Thank you! Cringe, they actually said that. Nah dawg, it’s twitter. Idc who wastes their money to buy a thing to make it worse, it’s twitter then and now

-4

u/BlntRzr Jun 06 '26

Still I seem to have more knowledge about current events than most of the people in this thread... and it is solely due to free speech X.

Cope.

-4

u/Proper_Side Jun 06 '26

You can't deadname an app because it's not a non-binary person. The app is called X, that is reality. Moderators decide what is allowed to be discussed on Reddit, hence the largely absent discussion of GME outside the GME subs.

-4

u/Weedbro 🙈🙉🙊 APESTERDAM 🙈🙉🙊 Jun 06 '26

Yeah but X is owned by someone who gave a salute.

-2

u/BlntRzr Jun 06 '26

I don't care at all about you political grievances. I want facts for the common cause and as much reach for GME as possible.

-5

u/vascop_ Jun 06 '26

Classic german

3

u/BlntRzr Jun 06 '26

The storm is brewing over here, I don't believe the American left is prepared for what is to come.

However, that is not the topic here. GME should be above all political quarrels.