Paramount Sweetens Offer For Warner Bros. Discovery
Deadline • • business
Key Points:
- Paramount has increased its bid above $30 per share to acquire Warner Bros Discovery (WBD) as its seven-day negotiating window expires, aiming to outbid Netflix's $27.75 per share offer.
- WBD has expressed concerns about financing guarantees for what would be the largest leveraged buyout in history, and ongoing talks are addressing these issues.
- Netflix holds the right to match any Paramount offer, and Wall Street expects Paramount's bid to reach $31 to $32 per share or higher to secure the deal.
- Paramount launched a hostile tender offer directly to WBD shareholders, bypassing the board, with the latest deadline extended to March 3; WBD shareholders are set to vote on the Netflix deal on March
