From CNBC: 2024-08-21 20:17:24

Edgar Bronfman Jr. has placed a bid of $4.3 billion for National Amusements, seeking to acquire Paramount Global and outbid Skydance Media’s merger agreement. The special committee extended the “go shop” period to review Bronfman’s proposal, raising funds to support a potentially higher bid. Shareholders have raised concerns about the Skydance deal, with lawsuits filed against Paramount.

Bronfman’s initial bid includes a $1.5 billion investment into Paramount’s balance sheet and covering a $400 million breakup fee owed to Skydance. As the committee extends the “go shop” period, the fate of Paramount remains uncertain, with intense competition between potential buyers. The increased focus on the competing offers could reshape the future of Paramount Global.



Read more at CNBC: Paramount-Skydance ‘go shop’ period extended to review Bronfman offer