Skydance reportedly sweetens offer for Paramount Global, giving shares a boost
NY Post
Skydance Media has submitted a sweetened offer for Paramount Global, according to a person familiar with the matter.
The new deal improves terms for both classes of Paramount shareholders, and provides more cash, according to the source, who spoke on condition of anonymity.
Specific details of the offer could not immediately be determined.
A spokesman for a special committee of the Paramount board, which was created to evaluate such offers, declined to comment.
The Wall Street Journal first reported the improved offer.
David Ellison’s Skydance initially proposed a complex transaction, in which it would pay roughly $2 billion to acquire the Redstone family’s holding company, National Amusements, which holds 77% of Paramount’s class-A voting stock.
