The video game retailer, GameStop has launched a surprise offer to acquire the e-commerce giant in a deal that would rank among the biggest tech transactions of the year.
Richard Brand is leading the White & Case team advising GameStop, according to an SEC filing. Brand previously advised the company on its $1.9bn warrant distribution to shareholders and convertible noteholders.
GameStop is reportedly offering $125 per share in a 50-50 mix of cash and stock, representing roughly a 20% premium to eBay’s Friday closing price.
While eBay has not disclosed its legal advisers, the company has historically turned to Wachtell, Lipton, Rosen & Katz on major strategic deals, including the $4bn sale of StubHub and the €14bn Adevinta transaction.
For context, eBay’s market cap is currently almost four times the size of GameStop’s.
We’ll see what unfolds here...