TD
Toronto Dominion Bank
stock NYSE

TD gets me gold bars within 10 business days

TD used to be a few days back in 2023/2024 but now it's several months to delivery. I waited 3 months for a silver coin this year, for example.

In Canada : CIBC and TD have it in their websites. I have seen bars with RBC, Scotia, and BMo logos. Those are the “big 5”
Costo is priced better and a smoother transaction.

I think TD does

I agree the whole thing is ridiculous. \[This Bloomberg article might explain it:\](https://www.bloomberg.com/news/articles/2026-05-04/gamestop-s-highly-confident-20-billion-td-letter-echoes-drexel)
\* Any deal would mark a deepening of ties between GameStop and TD, which last year was sole lead underwriter of $2.7 billion of convertible securities issued by the company.
\* The gaming retailer led by Canadian billionaire Ryan Cohen said it obtained a “highly confident letter” from Toronto-based [TD Bank](https://archive.is/o/jxt5x/https://www.bloomberg.com/quote/TD:CN) to provide about $20 billion in debt financing for the takeover. The move is meant to provide loose assurance that GameStop’s proposal has backing, though the letter isn’t legally binding.
Meltie tinfoil: there is no 20 billion, they're humouring a client.

> 1) He completely ignores the debt tied to the convertibles.
>
>
He completely ignores the entire concept of debt. Toward the end of the video he ponders why it is that GameStop "only" has 11 billion in market cap when they have 9 billion of cash and 20 billion from TD - money which not only would be a loan, but which they don't even have yet.

I checked this webpage: https://investor.gamestop.com/news-releases/news-details/2026/GameStop-Proposes-to-Acquire-eBay-at-125-00-Per-Share/
Which states: The cash consideration is expected to be funded from a combination of (i) cash and liquid investments on GameStop’s balance sheet, which totaled ~$9.4 billion as of January 31, 2026, and (ii) third-party acquisition financing, in respect of which GameStop has received a highly-confident letter from TD Securities for up to $20 billion.
So with about $29.5B (rounded up) in cash, eBay being worth about $55.5B in the same report, that still leaves $26B which would be paid "in stock". However, GME's total market cap is ~$11B. The paper unfortunately does not explain the missing $15B. Please explain where this missing $15B can be made up.

Fido will likely hound you with their PWM salespeople. Schwab won't. Been using TD/ Schwab for 20 years and we'll never switch.

RC already baked GME shares into the eBay deal. it's 50/50 cash and stock. So if there's a parabolic move before this thing closes, why would he ever do an ATM offering?
An ATM is to raise cash, but the stock side of the deal doesn't need cash. It's literally just GME shares being handed to eBay holders. If the price goes way up, fewer shares need to be issued to cover that $28B stock portion. The dilution gets smaller, not bigger.
On the cash side he's already got $9.4B on the balance sheet and a $20B commitment from TD. That math basically covers the $28B cash portion without touching the equity markets at all.
So yeah. A squeeze or any major run up before close actually makes the deal cleaner, not messier. No need to dilute retail to raise cash when shares themselves are already the currency.
Just my two cents, not financial advice obviously

Best interview he ever gave.
I think he has a lot more financing coming than those 20 billions from TD.
This will be Paramount - Warner 2.0, just with a good price action.

the 20 Billy from TD counts as 3rd party.

Is TD Securities one of those insider institutions? if so, that could explain a lot here and be an insider signal to the ebay board that its voting to approve. Add that on top of other big money interests that we think could support ry and that could be why he seems so confident. To me, it seems like he knows this is a done deal but won't say it hence "we'll see what happens" with smirk

Still way too much exposure for one bank to take, and who knows how could eBay could be mismanaged following the acquisition.
Maybe if they syndicated the loan to dozens of other banks but even then... I'm telling you as someone working in finance this "20 billion from TD" doesn't seem credible at all.
20 billion is something you would do as a public bond offering to investors not something a bank or even a group of banks would do, unless the borrower is a huge financial powerhouse like Google or something. Even a public bond offering of $20 billion would be a very sizeable deal, would make no sense for a small issuer like GameStop to be able to pull off, even if it is to buy eBay. No way that fixed income investors would trust Ryan Cohen with $20 billion to throw around on acquisition. The last option would be to borrow on the private credit market, but same thing here a $20 billion loan would be an insanely large deal that would require insane clout with private credit firms in order to pull off.
I'm surprised TD hasn't commented calling it BS.

Es kommt nicht auf die TER, sonder auf die Tracking Difference (TD) an, wozu es beim xtrackers noch keine Daten gibt, da zu jung. Ich persönlich würden den Vanguard nehmen und in ein paar Jahren bei Bedarf einfach den Sparplan wechseln.

Their question is - the value of ALL the stock is 11B, they have 9B on their balance sheet, and they can get 20B from TD. That makes 40B. Their offer is 56B. Where do they get the remaining 16B? The question is super straightforward, there aren't any gotchas.

TD has a big short position. I guess.

The value of this new entity is all completely speculation, if I'm a share holder, I'm not trusting half of the deal on "trust me bro". The market is going to determine the price of this new entity.
Let's break this down for an eBay shareholder:
They're hypothetically getting $62.75/share in cash if they can secure a loan from TD.
The other half is being paid out in a new entity.
With this new entity, you're getting:
- eBay
- an added $24B in new debt (TD debt plus GMEs outstanding obligations)
- GameStop's business (minus 8B in cash, since that is being used to pay for the other side of the deal)
- 50% less ownership stake than before
There is no control over what the market thinks this new conglomerate entity is. GME is saying that it would be worth enough to pay for half the deal, but there is no guarantees to this at all.

i think thats because gamestop has that $20billy cash note from TD so they are really bringing $29billy to the table and should get more like 50% really

Guy has 11 billion wants to buy company for 56 billion using:
20 Billion loan or partnership with TD Bank.
9 Billion in cash from his bank account.
26 billion by another share offering diluting the stock.
But he says the stock price will go right back up because he's gonna cut all the waste from EBAY, like their marketing.
That's the deal?
Ebay:

They are borrowing 20B$ from TD