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.
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