GameStop has made an unsolicited $56 billion cash-and-stock offer to buy eBay (paywalled; alternative source), with CEO Ryan Cohen arguing he can turn the marketplace into a far larger Amazon competitor. "EBay should be worth -- and will be worth -- a lot more money," Cohen said in an interview. "I'm thinking about turning eBay into something worth hundreds of billions of dollars." The Wall Street Journal reports: Cohen said GameStop has a commitment letter from TD Bank to provide up to $20 billion in debt financing to help make a deal possible. GameStop delivered an offer letter to eBay on Sunday and released a copy of it following the Journal's report on the details of the bid. Cohen wrote in the letter to eBay Chairman Paul Pressler that GameStop started building its eBay position on Feb. 4. It said its offer consists of 50% cash and 50% GameStop shares. EBay said Monday morning its board and financial advisers would review GameStop's unsolicited proposal. It said there were no discussions with or outreach from GameStop before receiving the offer. Ebay added that it will review the offer "with a focus on the value to be delivered to eBay shareholders, including the value of the GameStop stock consideration and the ability of GameStop to deliver a binding, actionable proposal." If eBay isn't receptive, Cohen said he was prepared to run a proxy fight and take the offer directly to its shareholders. The window for shareholders to nominate director candidates at eBay ahead of an annual meeting scheduled for this June has already closed, according to the company's proxy materials. Cohen told the Journal that putting his videogame retailer and eBay under one roof could create opportunities to cut costs and improve earnings. The two companies have some overlap already, including a focus on selling collectibles such as trading cards. "There is nobody who is more qualified, based on my experience, to run the eBay business," Cohen said, referencing his time at GameStop and previously Chewy, the online pet-products marketplace he co-founded.Read more of this story at Slashdot.