GameStop, led by CEO Ryan Cohen, has increased its stake in eBay to nearly 10%, intensifying its efforts to take over the online auction giant after eBay rejected an unsolicited takeover bid earlier this year. The move signals that Cohen has no intention of backing down despite eBay's public dismissal of the offer, and points to an escalating standoff between the two companies as Cohen pursues his vision of merging GameStop's retail and collectibles business with eBay's marketplace.

An SEC filing shows GameStop now holds 43.4 million eBay shares, roughly 9.8% of the company, up from the 5% stake disclosed in May when Cohen first revealed his $55.5 billion takeover offer at $125 per share in cash and stock. eBay rejected that bid a week later, branding it "neither credible nor attractive," and Cohen told Bloomberg that eBay has still not made contact, accusing its leadership of being "entrenched" and "hiding behind their advisors." Cohen, who is personally committing $500 million to the effort, has outlined plans to combine GameStop's stores with eBay's platform for live commerce, an in-game digital marketplace and same-day authentication services, while insisting his goal is simply to maximise shareholder value.