Paramount Skydance Comes Out With Hostile Bid For Warner Bros. Discovery, Offers $18B More In Cash Than Netflix’s Consideration
Synopsis
Paramount is offering $30 per share in cash, and the company stated that the proposed transaction is for the entirety of WBD, including the Global Networks segment.
Paramount Skydance Corp. (PSKY) on Monday announced an all-cash tender offer to acquire Warner Bros. Discovery Inc. (WBD), days after losing the bidding war to Netflix Inc. (NFLX).
Paramount offered $30 per share in cash, and the company stated that the proposed transaction is for the entirety of WBD, including the Global Networks segment.
The company highlighted that the latest offer provides WBD shareholders $18 billion more in cash than the consideration offered by Netflix.
Paramount Skydance shares were up nearly 5% in Monday’s pre-market trade, while Warner Bros. Discovery shares were up nearly 6%. Retail sentiment on Stocktwits around both companies trended in the ‘extremely bullish’ territory at the time of writing.
Get updates to this developing story directly on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.