Key Moments
- Warner Bros. Discovery (NASDAQ:WBD) shares rose 1.5% on Monday following a report of a higher potential takeover offer.
- Paramount’s revised bid is expected to be $32 per share, up from a prior $30 per share proposal, according to insiders cited by Variety.
- The exclusive seven-day window for Paramount to submit an improved offer, agreed with Netflix’s consent, is scheduled to end at 11:59 p.m. ET on Feb. 23.
Market Reaction to Reported Offer
Warner Bros. Discovery (NASDAQ:WBD) shares traded higher on Monday, advancing 1.5% after a report indicated that Paramount is anticipated to present an upgraded takeover proposal valued at $32 per share.
Details of the Potential Revised Bid
According to a report from Variety, individuals described as insiders said Paramount is expected to return with an enhanced offer of $32 per share. This prospective bid would exceed its earlier proposal of $30 per share.
The report stated that David Ellison’s Paramount Skydance faces a Monday deadline to deliver what has been characterized as its best and final offer for Warner Bros. Discovery, as it attempts to surpass a competing bid from Netflix for the company.
Exclusivity Window and Timeline
The board of Warner Bros. Discovery has granted Paramount a seven-day period to present an improved proposal, an arrangement made with the consent of Netflix. This negotiation window is set to conclude at 11:59 p.m. ET on Feb. 23, after deal teams from both sides held discussions over the weekend.
| Key Bid Terms and Timeline | Details |
|---|---|
| Previous Paramount offer | $30 per share |
| Expected revised Paramount offer | $32 per share |
| Share price move mentioned | Warner Bros. Discovery up 1.5% on Monday |
| Exclusivity window duration | Seven days |
| Exclusivity end time | 11:59 p.m. ET on Feb. 23 |
Paramount’s Position
Paramount did not provide any public guidance on its next steps. The report noted that the company declined to comment on how it plans to proceed.
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