Paramount on Thursday extended the deadline on its hostile tender offer for Warner Bros Discovery to February 20. The deadline was originally January 21.
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Paramount Skydance
on Thursday extended the deadline on its hostile tender offer for Warner Bros Discovery
by about a month to February 20, buying more time to persuade investors that its bid for the Hollywood studio trumps a rival deal with Netflix
The company did not raise its bid on Thursday. Only about 168.5 million Warner Bros shares, representing 6.8% of the company’s outstanding stock, had been tendered by the offer’s original January 21 deadline.
Paramount Skydance has extended the deadline for shareholders to accept its hostile bid to buy Warner Bros. Discovery, continuing…
The Ellison-owned media giant will now give investors until February 20 to consider its bid.
If WBD deems the new Paramount offer superior, Netflix will have four days to improve its previously agreed-upon bid.
Warner Bros says the latest proposal could convince it to abandon the deal it struck with Netflix.
WBD has valued Paramount Skydance's latest takeover offer as superior to a deal with Netflix, another twist in the ongoing battle…
The Ellison-backed US media giant offered a so-called ticking fee for each month the deal fails to close.
