GAMESTOP OFFERS TO BUY EBAY FOR $56 BILLION

Summary from the TLDR newsletter

GameStop has made an unsolicited offer to buy eBay for $56 billion, a roughly 20% premium to the company's stock closing price on Friday. GameStop is a much smaller company than eBay and is currently valued at around $12 billion. The company has around $9 billion in cash and a commitment letter from TD Bank to provide up to $20 billion in debt financing to help make the deal possible, but it is unknown how the company will come up with the rest of the money.