Paramount goes hostile in bid for Warner Bros., challenging a $72 billion bid by Netflix

"Paramount is making a hostile bid for Warner Bros. Discovery, challenging Netflix which reached a $72 billion takeover deal with the company."

"Paramount said Monday that it going straight to Warner Bros. shareholders with a $30 per share in cash offer for the entirety of Warner Bros. Discovery, including its Global Networks segment, asking them to reject the deal with Netflix."

"The cash and stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of $82.7 billion, including debt."

Paramount launched a hostile bid to acquire Warner Bros. Discovery, offering $30 per share in cash for the entire company including its Global Networks segment. Paramount urged Warner shareholders to reject Netflix’s competing takeover agreement. Netflix previously struck a cash-and-stock deal to buy Warner Bros. Discovery valued at $27.75 per share, implying an enterprise value of $82.7 billion including debt. The Netflix transaction is expected to close within 12 to 18 months after Warner separates its cable operations. Several networks, including CNN and Discovery, are excluded from the Netflix deal. A political leader voiced concern about combined market share size.

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