US EditionParamount extends deadline on hostile Warner Bros bid to February 20
Paramount extended its $30-per-share offer deadline to Feb. 20 after only 6.8% of Warner shares were tendered by the original Jan. 21 deadline, aiming to sway investors amid Netflix's rival bid.
- On Thursday, Paramount Skydance extended the deadline on its hostile tender offer for Warner Bros Discovery to February 20, buying more time to persuade investors that its bid trumps Netflix's rival deal; this is the second extension since last month.
- Competing financial terms pit Paramount's whole-company bid against Netflix's asset-only deal, with Paramount offering $108.4 billion, $30 per share, and Netflix revising its $82.7 billion all-cash offer at $27.75 per share.
- Only about 168.5 million Warner shares, representing 6.8% of stock, had been tendered by January 21, and Paramount did not raise its bid on Thursday.
- A shareholder vote likely by April will test investor preferences as Paramount mounts a proxy fight, nominating directors and asking Warner Bros investors to oppose the Netflix merger.
- Complications include the Discovery Global spinoff and $17 billion in debt allocation, while the process may attract antitrust scrutiny and political involvement under President Donald Trump.
40 Articles
40 Articles
Paramount Skydance has not yet been defeated in the takeover battle for Warner Bros Discovery. On Thursday, the film studio operator and streaming provider extended the deadline for its takeover offer to the rival. Warner investors can decide by February 20 whether they want to offer their shares to Paramount or Netflix. Paramount offers 108 billion dollars. However, the Warner management has rejected the offer several times, as they believe tha…
Paramount extends deadline on hostile Warner Bros bid to February 20
Paramount Skydance on Thursday extended the deadline on its hostile tender offer for Warner Bros Discovery by about a month to February 20, buying more time to persuade investors that its bid for the Hollywood studio trumps a rival deal with Netflix.
A new episode in the historic battle to become the king of entertainment in the United States. Paramount Skydance, the company controlled by David Ellison, has decided to once again extend the deadline for the unsolicited takeover bid on Warner Bros Discovery. The audiovisual group has also announced that it will launch a campaign among WBD shareholders to reject Netflix's acquisition agreement.
Coverage Details
Bias Distribution
- 68% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
