The proposal raises immediate questions about financing. GameStop’s market value is only a fraction of the roughly $56 billion implied deal size, and while the company has lined up a $20 billion financing letter from TD Bank, the funding gap remains substantial.

Cohen offered limited clarity on the structure during what at times was a combative and awkward interview, repeatedly directing viewers to the company’s website for details. 

“We are offering half cash, half stock, and we have the ability to issue stock in order to get the deal done. But the full details of the offer are on our website,” Cohen said. “We will see what happens.”

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