Paramount Skydance Boosts Warner Bros Bid to $31 Cash, Adds $2M Daily Fee
Paramount Skydance increased its cash acquisition offer for Warner Bros Discovery to $31 per share, adding higher regulatory termination fees and a $2 million daily ticking fee. The revised bid has prompted Warner Bros Discovery’s board to revisit the previously preferred Netflix merger and disrupted the March 20 shareholder vote.
1. Offer Details
Paramount Skydance’s revised offer stands at $31 per share in cash, incorporates an increased regulatory termination fee structure and imposes a $2 million daily ticking fee if the transaction is delayed beyond the agreed closing date.
2. Board Reconsiders Netflix Deal
Warner Bros Discovery’s board is reevaluating the previously preferred merger agreement with Netflix after the enhanced bid, potentially postponing or altering the March 20 shareholder vote on the Netflix transaction.
3. Stock Reaction
Paramount Skydance shares rallied in premarket trading following the bid enhancement, reflecting investor optimism that the improved offer increases the likelihood of a successful takeover.