"Please note when you next meet as a board we wanted to offer you a package that addressed all of the issues you discussed we [sic] me. Those were 1 we wanted to offer complete certainty 2 strong cash value 3 speed to close. Please note importantly we did not include "best and final" in our bid. Also please know despite the noise of the last 24 hours I have nothing but respect and admiration for you and the company."
"did not present any actionable improved proposal for consideration and it would not have been appropriate to do so in the midst of the WBD Board's deliberations."
"If we have the privilege to work together you will see that my father and I are the people you had dinner with. We are always loyal and honorable to our partners and hope we have the opportunity to prove that to you. Best, David"
David Ellison, CEO of Paramount, sent a December 4 text to Warner Bros. Discovery CEO David Zaslav stating Paramount's bid was not its "best and final" and offering a package addressing certainty, cash value, and speed to close. WBD stated Zaslav did not respond because the message did not present an actionable improved proposal and responding during the WBD Board's deliberations would have been inappropriate. WBD accepted Netflix's offer instead. Paramount's offer was rejected but Paramount can appeal to shareholders or raise its bid. A Centerview employee sent a similar message to an Evercore employee advising WBD.
Read at Business Insider
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