Paramount has amended its $30 per share all-cash offer for Warner Bros. Discovery, Inc. to address concerns regarding the offer.
The amended offer includes an irrevocable personal guarantee from Larry Ellison and improved flexibility in transaction terms.
WBD shareholders should have access to information on financial analyses for a fair comparison between Paramount and Netflix offers.
Irrevocable Personal Guarantee
Larry Ellison provided an irrevocable personal guarantee of $40.4 billion of equity financing for the offer and any damages claims against Paramount.
Revocable Trust
Ellison family trust assets will not be adversely transferred during the transaction.
Transaction Terms Flexibility
Paramount offered improved flexibility to WBD on debt refinancing transactions and interim operating covenants.
Regulatory Termination Fee Increase
Paramount increased its regulatory reverse termination fee to $5.8 billion to match the pending transaction.
Conditions and Offer Details
Offer is conditioned on WBD owning 100% of its Global Networks business with unchanged terms and conditions.
- Paramount's commitment to acquiring WBD is underscored by the fully financed $30 per share all-cash offer.
- The amended offer addresses concerns and provides additional guarantees for a more secure transaction.
- Offering flexibility and increasing the termination fee demonstrate Paramount's persistence in the acquisition process.
Paramount's enhanced offer aims to maximize value for WBD shareholders and stakeholders in the entertainment industry.