Reported 4 months ago
Film producer David Ellison’s offer for Paramount Global includes an option for nonvoting shareholders to cash out a portion of their stock for about $15 a share, a 26% premium to Friday’s closing price. The offer, covering approximately 40% of the shares, involves rolling the rest of the stock into the new company, with Ellison investing billions more through share offerings and debt repayment. Shari Redstone, Paramount’s chair, supports merging Paramount with Ellison's Skydance to benefit the family’s legacy. Paramount’s annual meeting is upcoming as Ellison's aims to finalize the deal.
Source: YAHOO