Paramount Skydance continues to embrace the “if at first you don't succeed” approach in its ongoing pursuit of Warner Bros. On Wednesday, the latter said it would pass on the latest offer from David Ellison's conglomerate—but left the door open wide enough that Paramount appears to believe it still has a shot.
Some of Warner Bros Discovery's biggest investors are split on Paramount Skydance's sweetened offer for the storied movie studio owner, giving the smaller media company a fighting chance at winning over shareholders.
Paramount insists its $30 per share cash offer for Warner Bros. Discovery beats Netflix's $27.75 deal, despite board rejection of the hostile takeover bid.
Paramount Skydance Corp (NASDAQ:PSKY) has reiterated its $30 per share all-cash offer to acquire Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A), a day after the WBD board rejected the proposal as inferior to Netflix Inc (NASDAQ:NFLX, XETRA:NFC)'s competing bid. In a statement, Paramount said it noted WBD's decision not to engage but maintained that its offer is “superior to WBD's existing ag...
Paramount Skydance on Thursday staunchly defended its revised $77.9 billion bid to take over Warner Bros. Discovery after the company again rejected its offer in favor of Netflix.
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