Netflix and Warner Bros. Discovery have amended their merger deal to an all-cash offer of $27.75 per share, replacing a previous mix of cash and stock. The move is designed to counter Paramount’s competing all-cash takeover bid and accelerate shareholder approval. The deal, which separates WBD into Warner Bros. and Discovery Global, is expected to be voted on this spring. Paramount, which has threatened a proxy fight and sued for more valuation details, continues to push its $30-per-share offer. (98 words)
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Netflix revises its offer for Warner Bros. Discovery. Now, it’s all cash
By mychabi2013
