Warner Bros. likely to reject Paramount’s latest hostile bid
Warner Bros Discovery is expected to reject Paramount Skydance’s amended $108.4 billion hostile bid, CNBC reported Tuesday.
The rebuff could brush aside Paramount’s effort to shore up deal financing through a $40.4 billion personal guarantee from Oracle co-founder Larry Ellison.
Paramount and Warner Bros Discovery did not immediately respond to Reuters’ requests for comment.
The decision could keep Warner Bros on track to pursue a rival cash-and-stock deal with Netflix, underscoring broad concerns over valuation, strategic fit and deal certainty despite Paramount’s attempt to sweeten its offer.
Paramount had said Ellison had agreed to personally guarantee equity financing backing the bid, a move aimed at easing doubts that had dogged its earlier proposal.
The company also raised its regulatory reverse termination fee and extended its tender offer deadline, while the $30-per-share all-cash value remained unchanged.
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