Paramount Skydance Corp. launched an all-cash tender offer on Monday to buy Warner Bros. Discovery Inc. (WBD), offering $30 per share, for an enterprise value of $108.4 billion.
In a statement, Paramount insisted that its offer is superior to Netflix Inc., as the latter's proposal "entails a volatile and complex structure valued at $27.75 mix of cash ($23.25) and stock ($4.50)." Paramount also pointed out that it is interested in buying the entirety of WBD, including the Global Networks segment. "[The Netflix transaction] exposes WBD shareholders to a protracted multi-jurisdictional regulatory clearance process with an uncertain outcome," Paramount said, adding that it is offering the WBD shareholders $18 billion more in cash compared to its rival.
While Paramount sent six proposals in the last 12 weeks, it claims that WBD "never engaged meaningfully." Netflix previously announced that it would be acquiring WBD for $82.7 billion, with the takeover news being met with criticism.
https://breakingthenews.net/Article/Paramount-proposes-dollar108.4B-deal-to-WBD/65314586
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