According to a new report by Reuters, GameStop are holding talks with some private equity firms that could lead to a potential buyout of the company.
Some who wish to remain anonymous said that GameStop have hired a financial advisor to assist them with these negotiations. While it’s unknown exactly how many firms have approached the company about a buyout, one of these companies is Sycamore Partners
Since these reports surfaced, GameStop saw an 11% increase in stock value during Monday’s trading day.
This comes after the now former CEO Michael Mauler stepped down last month after only 3 months in the position and have seen their stock value dropped in half over the past year.
Neither GameStop nor Sycamore have commented on the matter.