Shares of GameStop Corp. and eBay Inc. soared more than 15% in after-hours trading after Ryan Cohen made a bold proposal to acquire the e-commerce giant, which is several times larger than his own retail chain. The video game retailer offered $125 per share in cash and stock, representing a 20% premium over Friday’s closing price.

The recent valuation of eBay under the deal is approximately $56 billion, with GameStop having already accumulated a roughly 5% stake in the marketplace. To finance the transaction, Cohen’s company plans to secure a $20 billion debt loan from TD Bank, as well as utilize its own cash reserves of $9 billion.

GameStop aims to join forces with eBay amid overlapping interests in the collectibles and resale segments. Cohen stated his intention to turn eBay into a company worth “hundreds of billions of dollars” and pledged to achieve annual savings of $2 billion within the first year after closing the deal.

The deal faces skepticism from analysts due to the massive gap in the companies’ scales: GameStop’s market value at the time of the offer was only $12 billion. Bloomberg Intelligence experts note a low probability of the takeover’s completion, pointing to risks of significant capital dilution and difficulties in integrating two giants that have historically developed in different market segments.