Gregs left nut
15.7K posts








The people running eBay bought $0 of stock in the open market in the last 5 years. eBay insiders sold more than $120M in the last 5 years.










That’s the key point from Ryan Cohen’s interview. He explicitly said equity is going to be rolled into both GameStop and eBay shareholders. That rules out a standard acquisition. This is Teddy. There’s really no other clean way to interpret that kind of language. DK-Butterfly is the obvious vehicle, use it as the holdco, preserve the NOLs, and run a reverse merger that pulls both GameStop and eBay into the same umbrella. End result is one combined company, Teddy. From there, the equity split basically falls into place: 51% to legacy BBBYQ (required) ~19.4% GameStop (40% of the remaining 49%) ~29.4% eBay (60% of the remainder) Consolidation. Everyone rolls equity into the same structure and comes out owning pieces of the new combined entity.

















