Paramount has launched a £108.4bn hostile bid for Warner Bros, challenging Netflix, which had reached a $72bn takeover deal with the company.
Paramount said on Monday that it was going straight to Warner Bros shareholders with a $30 per share in cash offer for the entirety of the company, including its Global Networks segment, asking them to reject the deal with Netflix.
On Friday Netflix struck a deal to buy Warner Bros. Discovery, the Hollywood giant behind “Harry Potter” and HBO Max
The cash and stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of $82.7 billion, including debt.
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