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Quoted By: >>19643505 >>19643526 >>19643561 >>19643590 >>19643592 >>19643596 >>19644784 >>19649650 >>19649714 >>19652244
The hostile takeover of Paramount has been REJECTED by the WBD BOARD (partial stakeholders in AEW). What will Netflix do with their stake in OUR AEW???????? Will they even buy it????
>Even after David Ellison’s Paramount filed a revised tender offer for the company Dec. 22, with Larry Ellison personally promising a full backstop on the deal, the WBD board released a letter Wednesday morning rejecting the new offer and sticking with its signed agreement with Netflix.
>The revised offer also saw Paramount increase the termination fee to $5.8 billion, matching Netflix, and extending the deadline for the tender to later in January. The company kept its offer price at $30 per share, all cash.
>But WBD’s board argued that the changes were not enough to persuade it to change its mind.
>“Your Board unanimously determined that the PSKY amended offer remains inadequate particularly given the insufficient value it would provide, the lack of certainty in PSKY’s ability to complete the offer, and the risks and costs borne by WBD shareholders should PSKY fail to complete the offer,” the WBD board wrote.
https://www.hollywoodreporter.com/business/business-news/warner-bros-discovery-rejects-paramount-revised-offer-1236457301/
>Even after David Ellison’s Paramount filed a revised tender offer for the company Dec. 22, with Larry Ellison personally promising a full backstop on the deal, the WBD board released a letter Wednesday morning rejecting the new offer and sticking with its signed agreement with Netflix.
>The revised offer also saw Paramount increase the termination fee to $5.8 billion, matching Netflix, and extending the deadline for the tender to later in January. The company kept its offer price at $30 per share, all cash.
>But WBD’s board argued that the changes were not enough to persuade it to change its mind.
>“Your Board unanimously determined that the PSKY amended offer remains inadequate particularly given the insufficient value it would provide, the lack of certainty in PSKY’s ability to complete the offer, and the risks and costs borne by WBD shareholders should PSKY fail to complete the offer,” the WBD board wrote.
https://www.hollywoodreporter.com/business/business-news/warner-bros-discovery-rejects-paramount-revised-offer-1236457301/
