The previous agreement offered WBD shareholders $23.25 in cash, plus $4.50 in Netflix common stock for each share of WBD common stock.
Netflix Inc. (NFLX) and Warner Bros. Discovery Inc. (WBD) on Tuesday announced that they have amended their agreement to acquire WBD into an all-cash deal.
In a joint announcement, the two companies said that the transaction is valued at $27.75 per share, unchanged from the previous offer. However, the previous agreement offered WBD shareholders $23.25 in cash, along with $4.5 in Netflix common stock for each share of WBD common stock.
The new agreement offers WBD shareholders $27.75 per share.
Netflix shares were up 1% at the time of writing, while Warner Bros. Discovery shares were down 0.26%. Retail sentiment on Stocktwits around Netflix trended in the ‘extremely bullish’ territory, while users felt ‘extremely bearish’ about WBD.
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