"The WBD Board continues to support and unanimously recommend our transaction, and we are confident that it will deliver the best outcome for stockholders, consumers, creators, and the broader entertainment community,"
"Our revised all-cash agreement will enable an expedited timeline to a stockholder vote and provide greater financial certainty at $27.75 per share in cash, plus the value from the planned separation of Discovery Global."
"a complex and volatile mix of equity and cash."
Netflix updated its acquisition terms for Warner Bros. Discovery to an all-cash deal priced at $27.75 per share in cash plus value from the planned separation of Discovery Global. The amendment replaces the original $23.25 cash plus $4.50 in Netflix shares structure and is intended to expedite the sale of WBD studios and streaming businesses. The revised deal will be financed with cash on hand, available credit, and other financing and received unanimous approval from both Netflix and WBD boards. Closing remains subject to regulatory and WBD shareholder approvals. Paramount mounted a rival $108 billion all-cash hostile bid and has pursued legal action seeking additional disclosure.
#netflix-wbd-acquisition #all-cash-offer #paramount-hostile-bid #shareholder-and-regulatory-approval
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