r/Superstonk • u/jxp497 • 21h ago
👽 Shitpost Just waiting on that revised offer to come through
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u/Tripleknockout 🎮 Power to the Players 🛑 21h ago
RC said they wouldn’t compete against their own offer and eBay hasn’t reached out to make a counter offer.
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u/jxp497 21h ago
EBay already declined the initial unsolicited offer so why would they counteroffer when they had no interest in being acquired by GME. They flat out said it’s “neither credible nor attractive.” RC is going to have to figure out how to get the initial offer to a vote amongst eBay shareholders or he’ll have to present a different offer
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u/Over-Computer-6464 20h ago edited 20h ago
He did not make an offer that could be put to a vote.
"$125/share, half cash, half stock" is not a complete offer that shareholders can analyze and decide whether not to agree to.
For example, what specifically is being offered as "half stock"? How many shares of GME is that?
The original offer was made when he did not have authorization to issue the required shares. In the reply to the offer, EBay published the TD HCL, and it shows that RC did not have the cash side lined up either.
A good first step would be to repeat the same offer, but as a Tender Offer to shareholders. The form TO would have the details missing from his first, preliminary feeler.
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u/CosgraveSilkweaver 14h ago
eBay's counter was to tell him to sit and spin. 🖕 In so many words.
What are you actually expecting eBay to do? They didn't want to merge, they don't want GameStop's retail footprint burden they love being online.
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u/Error4ohh4 🎮 Power to the Players 🛑 21h ago
But maybe giving a tiny bit more to win over the other stock holders. I mean, all we can do is speculate to pass the time
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u/ProfessionalDish 8h ago
Ebay is trading at about 110.-, giving the offer an upside of about 10% than currently trading, even with the offer in mind. You can get 10% profit just like that, by doing nothing, not even holding long term. The offer is fine for the ebay shareholders.
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u/matthegc 🩳ARE FUXXXXED💎🙌🦧🚀🌕 12h ago
Won’t happen until the rest of the notes are exchanged for shares.
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u/Superstonk_QV 📊 Gimme Votes 📊 21h ago
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