John Foley

But I, Ryan Cohen, will be in charge.

I'll be running it.

It'll be my board.

It'll be called GameStop, presumably.

It'll have a different stock ticker.

But eBay shareholders will still have... Well, they'll have a bunch of cash they'll take away.

And they'll also have...

But collectively, probably a majority of the new enlarged company.

So it's $28 billion in total.

And so the offer, the headline offer is half cash, half shares.

It's $125 per share, which is half cash, half shares.

That is actually not quite right because the shares go up and down in value, obviously.

Yeah, you get like $62.50 in cash.

How much more?

So this is why this is why an eBay shareholder would want to think very carefully about this and may not like what they see, because this company would have a lot of debt.

The debt would be about net debt would be about five times EBITDA, which in real speak means a lot of debt.

And it would have Ryan Cohen in charge of it, and you either like him or you don't.

They'd probably have to do something about GameStop's board, which is super flimsy, in my opinion.

It's not a strong board.

It's not an independent board very much.