GameStop CEO tells CNBC company seeking ‘very big’ acquisition

GameStop (GME) CEO Ryan Cohen told CNBC that the video game retailer is seeking to acquire a publicly traded consumer company that’s far bigger than the company in a deal that could be “transformational.” “It’s gonna be really big. Really big. Very, very, very big,” Cohen said. “It’s transformational. Not just for GameStop, but ultimately, within the capital markets … this is something that really has never been done before within the history of the capital markets.” Cohen did not mention any companies by name, adding that he’s targeting a publicly traded consumer company that’s undervalued, ” “high quality, durable, scalable with growth prospects” and has a “sleepy management team” behind the wheel. “If it works, it’s genius. If it doesn’t work, then, you know, it will be totally, totally foolish,” the CEO added. “But I believe we have the components to make it work, and I’m very confident in the ability to make the asset much, much, much more efficient … we’ve got the governance structure, we’ve got the capital, we have the operational expertise.”