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GameStop Seeks to Boost Authorized Shares to 2.5 Billion as eBay Pursuit Continues

GateNews
Stocks

According to an SEC filing on Friday, May 16, GameStop (GME) is seeking shareholder approval to increase its authorized share count from 1 billion to 2.5 billion shares ahead of its July 7 annual shareholder meeting. The move is designed to provide flexibility for potential acquisitions and investments.

GameStop added to its eBay stake this week, acquiring 25 million common shares to bring its total holding to approximately 6 percent of eBay (EBAY). This comes weeks after eBay rejected GameStop's unsolicited acquisition proposal valued at more than $55 billion.

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