GameStop seeks to increase authorized common stock to 2.5 billion shares, potentially providing more leverage for an eBay acquisition

According to Odaily, listed video game and merchandise retailer GameStop (GME) has filed with the SEC, requesting shareholder approval to increase the number of authorized common shares from the current 1 billion to 2.5 billion, in order to enhance financial flexibility. The proposal is one of five to be voted on at the annual shareholders' meeting in July. This move could provide the company with more leverage in its potential acquisition of eBay, after having previously faced rejection.