Yonhap Infomax NewsBest Buy shares surged 4.65% to $63.21 amid speculation that GameStop Chairman Ryan Cohen is targeting the electronics retailer for a transformational acquisition, with GameStop having deposited $700 million as collateral for derivative transactions that could facilitate a potential takeover bid.
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Best Buy Shares Surge on GameStop M&A Target Speculation
Best Buy shares surged 4.65% to $63.21 amid speculation that GameStop Chairman Ryan Cohen is targeting the electronics retailer for a transformational acquisition, with GameStop having deposited $700 million as collateral for derivative transactions that could facilitate a potential takeover bid.