Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to start the week with you. Today is Monday, May 4th. I'm Julie Morgan. GameStop has submitted a non-binding

proposal to acquire 100% of eBay at $125 per share in cash and stock. GameStop valued at

nearly $12 billion said Sunday it has built a 5% economic stake in eBay through derivatives and

direct ownership of common shares. eBay's market cap stands at about $46 billion. The offer represents a 46% premium to

eBay's closing price on February 4th, which was the day GameStop started accumulating its position

in eBay. The proposed offer of $125 per share is comprised of 50% cash and 50% GameStop common stock.

The cash consideration is expected to be funded from a combination of cash and liquid

investments on GameStop's balance sheet, which totaled $9.4 billion as of January 31st of this

year. In addition to third-party acquisition financing

in which GameStop has received a highly confident letter from TD Securities for up to $20 billion.

One topic that you haven't been able to get away from this weekend because it has been

consistently trending as

Spirit Airlines. A government bailout did not work out so the company officially began to wind down

operations on Saturday, May 2nd. Spirits collapsed followed two bankruptcy filings in two years,

repeated cost-cutting efforts and unsuccessful attempts to secure new financing.

Rising jet fuel prices tied to the Iran conflict accelerated the carrier's cash burn and helped force

the shutdown. Spirit Airlines said Sunday it has nearly finished issuing refunds to passengers

and transporting crew members back to their home bases after halting

operations over the weekend. The carrier said most travelers who purchased tickets using credit

or debit cards had received refunds by Saturday evening, with only a small share of

transactions still being finalized. Spirit also said the last remaining group of

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