Warner Bros Discovery (WBD) Board of Directors determines revised Paramount Skydance (PSKY) proposal could reasonably be expected to lead to a "Company superior proposal"; proposal includes an increased purchase price of USD 31.00/shr (prev. 30.00)
Importance
Level 1
- Revised proposal includes a daily ticking fee equal to USD 0.25 per quarter beginning after September 30, 2026.
- USD 7bln regulatory termination fee payable by PSKY in the event the transaction does not close due to regulatory matters.
- Payment by PSKY of USD 2.8bln termination fee that WBD would be required to pay to Netflix to terminate the existing Netflix merger.
- WBD will continue to engage with PSKY; the Netflix merger agreement remains in place.
- The board has not made a determination as to whether the revised PSKY proposal is Superior to the merger with Netflix.
- The board continues to recommend in favour of the Netflix transaction and is not withdrawing or modifying its recommendation
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