#paramount-takeover

#paramount-takeover

Warner Bros. Discovery board members delivered a blunt rejection of Paramount's revised hostile takeover bid on Wednesday, warning investors the offer was inadequate and still too risky. In a letter to shareholders on Wednesday, obtained and first reported by CNN, the WBD board rejected Paramount's revamped bid, insisting it falls well short of the certainty offered by its existing deal with Netflix. To effect the transaction, it intends to incur an extraordinary amount of incremental debt more than $50 billion through arrangements with multiple financing partners, the board wrote.