GameStop Announces Shocking Buyout Offer For eBay, Priced At $56 Billion

The latest chapter in video game retailer GameStop's tumultuous story is unfolding, as the company has announced plans to buy eBay for $56 billion.

CEO Ryan Cohen told The Wall Street Journal that he plans to offer $125 per share to buy eBay, and that's about a 20% premium over where eBay's shares closed on Friday. "There is nobody who is more qualified, based on my experience, to run the eBay business," he said.

"eBay should be worth--and will be worth--a lot more money. I'm thinking about turning eBay into something worth hundreds of billions of dollars," he said.