Explore the latest developments concerning GameStop's Ryan Cohen.
GameStop's Ryan Cohen eyes 'very big' consumer megadeal that could increase company's value tenfold
GameStop wants to acquire a publicly traded consumer company that's far larger than the video game retailer in a deal that could be "transformational" for the company, CEO Ryan Cohen told CNBC in an interview Friday.
"It's gonna be really big. Really big. Very, very, very big," Cohen said of the size of the acquisition. "It's transformational. Not just for GameStop, but ultimately, within the capital markets … this is something that really has never been done before within the history of the capital markets."
Cohen declined to name the company's targets – saying only he's seeking a publicly traded consumer company that's undervalued, "high quality, durable, scalable with growth prospects" and has a "sleepy management team" behind the wheel. He claimed if the investment pans out, it has the "potential to make [GameStop] worth several hundreds of billions of dollars."
GameStop wants to conduct 'major acquisition' of a public company
"It’s ultimately either going to be genius or totally, totally foolish."
The CEO of retailer GameStop, Ryan Cohen, has said he wants to acquire a publicly traded company.
That's according to the Wall Street Journal, which spoke to the billionaire chief executive about his plans to secure that $35 billion payday that the company put him on track for last year.
In order to do so, he has to bring GameStop's market cap to $100 billion. At the time of writing, the retailer is worth $10.68 billion, and even at the height of the January 2021 meme stock frenzy, the firm only ever reached a peak of $33.7 billion.
Diode Laser Machine 808nm Hair Removal for Women Alex Alexandrite Filter 2000W 40 Million Shots Permanent Painless Hair Removal
GameStop rallies as M&A intrigue brings in speculative buyers (GME:NYSE)
GameStop Corp. (GME) opened with a 5.8% swing higher as speculation builds over what Ryan Cohen's M&A master plan might be. Volume on GameStop (GME) is already over 2.2M shares during the morning session, putting it
For more detailed information, explore updates concerning GameStop's Ryan Cohen.
0 Comments