Paramount also said it would maintain its offer of $30 per share, which would give Warner Bros. Discovery a market value of $108.4 billion.
Paramount extended this Thursday, the 22nd, the deadline for its offer to acquire Warner Bros. Discovery in about a month, to February 20, which gives more time to convince the company’s shareholders to reject the deal with rival Netflix. Paramount also said it would maintain its offer of $30 per share, which would give Warner Bros. Discovery a market value of $108.4 billion.
According to the company, only about 168.5 million WBD shares, representing 6.8% of shares outstanding, had been tendered by the original January 21 deadline.
Adding criticism to its rival, Paramount also stated that the new agreement between Warner and Netflix leaves shareholders with greater uncertainty regarding the effective value they will be able to receive, due to doubts “about the volume of debt associated with Warner’s linear network business”.
Opportunity with security!
Last Tuesday, Netflix and Warner Bros. Discovery announced that it has changed the terms of the acquisition agreement to an “all-cash” structure, with the transaction unchanged from the previous agreement.
