GameStop CEO Ryan Cohen withdraws $35 billion bonus plan amid stalled eBay acquisition bid
By
Annie Palmer
Summary
GameStop CEO Ryan Cohen withdrew a proposed bonus plan worth up to $35 billion, signaling his seriousness about pursuing a $56 billion acquisition of eBay. The bonus plan was tied to performance metrics, and its withdrawal comes after eBay's board rejected Cohen's initial bid in May. However, Cohen has shared few details on how he plans to move forward with the acquisition.
Source
bskyGameStop CEO Ryan Cohen withdraws $35 billion bonus plan amid stalled eBay acquisition bidcnbc.comKey quotes
· 3 pulledGameStop CEO Ryan Cohen reminded Wall Street this week that he's still serious about buying eBay.
The video game retailer...said Tuesday that its board granted a request from Cohen to withdraw a proposed bonus plan that could have paid him as much as $35 billion if he hit certain performance metrics.
It was the company's first major update regarding its pursuit of eBay since May, when Cohen unveiled his audacious bid to buy the e-commerce company for $56 billion.
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