Warner Bros. Discovery confirmed today it had a received a revised offer from Paramount and is reviewing it in consultation with our financial and legal advisors.
It did not disclose the terms of the new bid. The Pararmout proposal on the table for some time has been for $30 a shares in cash but Paramount has bumped that up.
“We will update our shareholders following the Board’s review. The Netflix merger agreement remains in effect, and the Board continues to recommend in favor of the Netflix transaction. WBD shareholders are advised not to take any action at this time with respect to the amended PSKY tender offer.”
Warner announced the review following engagement with PSKY during a seven-day limited waiver period for the sides to engage.
More to come
