Shares of eBay take off on a $56 billion buyout bid from GameStop's Ryan Cohen

Shares of eBay are soaring before the opening bell Monday as Ryan Cohen’s GameStop pursues an approximately $56 billion takeover of company, seeing it as a vehicle to compete with online retail giant Amazon

Shares of eBay are soaring before the opening bell Monday as Ryan Cohen’s GameStop pursues an approximately $56 billion takeover of company, seeing it as a vehicle to compete with online retail giant Amazon.

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The national gaming retailer said that its approximately 1,600 U.S. stores could become drop-off and shipping locations. One proposal includes live sales broadcasts from GameStop locations featuring eBay products.

“EBay has the second largest commerce franchise and there’s a big opportunity to do something much larger,” Cohen said in a CNBC interview Monday.