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💰 The Battle for WBD Continues
The board of directors of Warner Bros. Discovery (WBD) has stated that it will “carefully review” the unsolicited acquisition offer from Paramount Skydance.
This comes shortly after WBD announced its deal with Netflix.
Paramount offered WBD shareholders $30 per share to acquire the entire company, including its cable networks. Paramount’s bid would provide shareholders with $18 billion more in cash than the Netflix offer. The total value of the Paramount Skydance proposal amounts to $108.4 billion.
The offer is backed by three Arab sovereign wealth funds and Jared Kushner’s company, Affinity Partners.
For now, WBD’s board has not changed its recommendation regarding the Netflix deal. However, shareholders have been advised to take no action before December 19, when WBD is expected to issue an official recommendation on the Paramount Skydance tender offer.
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