Paramount Launches Hostile All-Cash Tender Offer Of $30/shr For Warner Bros. Discovery

Paramount Skydance

10.99 CHF 5.79%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - Paramount Skydance Corp. (PSKY) announced Monday it has launched an all-cash tender offer to acquire all of the outstanding shares of Warner Bros. Discovery, Inc. (WBD) for $30.00 per share in an all-cash deal valued at $108.4 billion, which represents a 139% premium to the undisturbed WBD stock price of $12.54 as of September 10, 2025.

Paramount's proposed transaction is for the entirety of WBD, including the Global Networks segment. The bid is primarily backed by the Ellison family and RedBird Capital in addition to debt fully committed by Bank of America, Citi and Apollo Global Management.

Paramount said it's strategically and financially compelling offer to WBD shareholders provides a superior alternative to the Netflix (NFLX) transaction, which offers inferior and uncertain value and exposes WBD shareholders to a protracted multi-jurisdictional regulatory clearance process with an uncertain outcome along with a complex and volatile mix of equity and cash.

The Paramount offer for the entirety of WBD provides shareholders $18 billion more in cash than the Netflix consideration.

Paramount has gone hostile after it submitted six proposals over the course of 12 weeks, which WBD never engaged meaningfully. Paramount has now taken its offer directly to WBD shareholders and its Board of Directors to ensure they have the opportunity to pursue this clearly superior alternative to Netflix.

Paramount's tender offer, which was approved unanimously by its Board of Directors, is scheduled to expire at 5:00 p.m. New York City Time on January 8, 2026, unless the offer is extended.

Paramount will today submit a premerger notification filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its tender offer for WBD and stands ready to secure all necessary regulatory approvals expeditiously.

The proposed transaction will not be subject to any financing condition and will be financed by new equity backstopped by Paramount's well-capitalized principal equity holders, and $54 billion of debt commitments from Bank of America, Citi and Apollo.