"Following a careful evaluation of Paramount's recently launched tender offer, the Board concluded that the offer's value is inadequate, with significant risks and costs imposed on our shareholders, Samuel A Di Piazza Jr, chairman of WBD's board, said in a statement on Wednesday morning. This offer once again fails to address key concerns that we have consistently communicated to Paramount throughout our extensive engagement and review of their six previous proposals."
"Questions were swiftly raised about how the Ellisons were funding their proposal, after a regulatory filing revealed it was backed by outside funders including Affinity Partners, an investment fund founded by Donald Trump's son-in-law Jared Kushner; Saudi Arabia's Public Investment Fund; and the Qatar Investment Authority. On Tuesday, it emerged Kushner's Affinity Partners, a private equity firm, had stepped back from the process."
Warner Bros. Discovery urged shareholders to reject a $108.4 billion hostile takeover offer from Paramount Skydance, calling the proposal inadequate and imposing significant risks and costs on shareholders. Warner Bros. Discovery previously agreed to sell its movie studios, HBO cable network and streaming service to Netflix in an $82.7 billion deal. Paramount's all-cash counteroffer targeted the entire company, including CNN, and was controlled by the Ellison family. A regulatory filing showed outside backers including Affinity Partners, Saudi Arabia's Public Investment Fund and the Qatar Investment Authority; Affinity Partners later stepped back. The board affirmed that the Netflix merger represents superior, more certain value.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]