""not in the best interests of WBD and its shareholders.""
""Paramount's offer continues to provide insufficient value, including terms such as an extraordinary amount of debt financing that create risks to close and lack of protections for our shareholders if a transaction is not completed.""
""superior value at greater levels of certainty, without the significant risks and costs Paramount's offer would impose on our shareholders.""
Warner Bros. Discovery's board rejected Paramount's revised buyout offer as not in the best interests of WBD and its shareholders. Paramount mounted a hostile bid and later strengthened its proposal with a $40.4 billion guarantee from Larry Ellison, but shareholders did not accept the offer. The board continues to recommend that shareholders approve Netflix's bid for most WBD assets rather than Paramount's bid for the entire company. Paramount proposed $30 per share for all assets versus Netflix's $27.75 per share for select assets, but Paramount's terms include significant debt financing and closing risks.
Read at GameSpot
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