Warner Bros. Discovery (WBD) plans to recommend that shareholders reject Paramount’s hostile $108 billion (€92 billion) takeover bid, with an announcement expected as early as Wednesday, according to The Irish Times.
Sources close to the matter say WBD is close to finalising its formal response after the business led by David Ellison went directly to shareholders last week with a full cash offer of $30 per share. The move followed Paramount’s failure to secure the studio and streaming platform, which was instead acquired by Netflix.
Read full article here: turnovernews.com
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Photo: WBD
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