The Special Committee of Paramount Global’s Board of Directors has announced that the acquisition proposal by Edgar Bronfman Jr. and his investor consortium has been withdrawn. This termination also marks the conclusion of the ‘Go-Shop’ period specified in Paramount’s transaction agreement with Skydance Media, LLC. The merger with Skydance, expected to close by the first half of 2025 pending regulatory approvals, involves forming ‘New Paramount’ in an all-stock deal with an estimated enterprise value of $28 billion. The two companies have been in discussions for a two-step merger, first acquiring Paramount parent National Amusements, Inc., followed by merging Skydance and Paramount Global.
Media & Entertainment, Private Equity & Venture Capital,United States
https://mergersacquisitions.einnews.com/article/738516832/sXmx9M1Yg4V-o0Tw?ref=rss&ecode=Q1vNcweEggLWKz7L