Netflix sweetens Warner Bros bid with all-cash offer to block Paramount
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Netflix has sweetened its bid to acquire Warner Bros Discovery's (WBD) studios and streaming businesses with an all-cash offer of $82.7 billion, aiming to expedite the deal and counter a hostile takeover attempt by Paramount. The revised offer, maintaining the original valuation of $27.75 per share, seeks to simplify the transaction and provide greater certainty for WBD stockholders, potentially leading to a shareholder vote as early as April. WBD's board continues to support the Netflix deal, which includes a spin-off of WBD's global networks operation. Paramount, however, is pursuing a $108.4 billion takeover of the entirety of WBD, nominating directors to WBD's board to vote against the Netflix agreement and filing lawsuits to challenge the deal, though a judge rejected Paramount’s lawsuit. Paramount aims to win a proxy fight by convincing WBD investors to support its nominees and derail the Netflix acquisition.
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