Paramount raises purchase bid to $31 per share, Warner Bros. Discoveryt board to consider - UPI.com

Feb. 25 (UPI) -- Warner Bros. Discovery announced Tuesday that Paramount Skydance has raised its purchase offer to $31 per share, which may top Netflix's offer.

WBD last week said it would reopen talks with Paramount, and Netflix granted a 7-day waiver that ended Monday to allow shareholders a chance to get clarity on the offer. Netflix kept matching rights.

Netflix and Paramount have been trying to buy WBD since October. After a bidding war between Netflix and Paramount, WBD accepted Netflix's bid on Dec. 5. Soon after, Paramount launched a hostile bid to buy WBD, but the board didn't budge. Then Paramount announced that Oracle creator Larry Ellison would back the deal with $40 billion in equity. On Jan. 20, Netflix changed its offer to all cash, then on Feb. 10, Paramount did the same and added some extras.

That offer is what led to the discussion window, and now WBD is analyzing the new $31 offer.

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