May 1 (Reuters) – GameStop is preparing to make an offer for eBAY, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Shares of eBay, which has a market capitalization of about $46 billion, were up about 9% in extended trading on Friday.
Shares of GameStop, which has a market capitalization of nearly $12 billion, were up about 3%.
GameStop has been quietly building a stake in eBay’s shares ahead of a potential offer, the report said. It could submit an offer for eBay as soon as later this month.
GameStop and eBay did not immediately respond to Reuters’ requests for comment.
(Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid)
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