Reported 4 months ago
Skydance Media has updated their proposal to acquire a certain number of non-voting Paramount shares at $15 each, representing a 26% premium to Friday's closing price. The new offer includes improved terms for both voting and non-voting shareholders, more cash, and a commitment to pay down $1.5 billion of Paramount's debt. Skydance's sweetened bid was approved by a special committee of Paramount's board, with National Amusements seeking legal protection. Sony Pictures Entertainment and Apollo Global Management have also shown interest with a previous all-cash offer of $26 billion.
Source: YAHOO