Billionaire GameStop chairman and CEO Ryan Cohen has revealed that he plans to buy a company to help transform GameStop from where it stands today at around an $11 billion market cap to a $100 billion-plus giant that would sell more than video games and collectibles.
Cohen told The Wall Street Journal that he’s pursuing a publicly traded company for a buyout, and it would probably be a company in the consumer or retail space. Cohen has a history in those markets, as he co-founded Chewy before selling it to PetSmart and invested in Nordstrom and Bed Bath & Beyond.
Cohen said he plans to speak with companies soon, and said if a deal comes together, it would be “big.” At the same time, Cohen said it could all fall apart and end up in disaster.
