Warner Bros. Discovery Receives Amended Acquisition Offer from Paramount Skydance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Acquisition Offer Update: Paramount Skydance's amended tender offer aims to acquire all outstanding shares of Warner Bros. Discovery, following the Board's unanimous rejection of a previous offer on December 8, which was deemed inadequate and fraught with risks.
- Board Review: Warner Bros. Discovery's Board will collaborate with independent financial and legal advisors to carefully evaluate the new offer, ensuring compliance with its obligations under the Netflix merger agreement, which underscores its commitment to shareholder interests.
- Shareholder Advisory: The Board advises shareholders not to take any action regarding the amended tender offer until the review is complete, reflecting a cautious stance on the current transaction terms that may impact shareholder confidence.
- Legal Counsel Engagement: Warner Bros. Discovery has engaged Allen & Company, J.P. Morgan, and Evercore as financial advisors, while Wachtell Lipton and Debevoise & Plimpton LLP serve as legal counsel, ensuring compliance and transparency in this complex transaction.
PSKY
$13.61+Infinity%1D
Analyst Views on PSKY
Wall Street analysts forecast PSKY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSKY is 14.38 USD with a low forecast of 8.00 USD and a high forecast of 19.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
2 Buy
8 Hold
6 Sell
Hold
Current: 13.050
Low
8.00
Averages
14.38
High
19.00
Current: 13.050
Low
8.00
Averages
14.38
High
19.00
About PSKY
Paramount Skydance Corp, formerly New Pluto Global, Inc., is a holding company. It operates through its wholly owned subsidiaries, Paramount Global (Paramount) and Skydance Media, LLC (Skydance). Paramount is a global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Its consumer brands include CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. In addition to offering streaming services and digital video products, it also provides production, distribution and advertising solutions. Skydance is a diversified media company focused on creating event-level entertainment for global audiences. Skydance develops, finances and produces live-action and animated films, television shows, sports content and interactive games worldwide. Skydance has also produced 31 seasons of live-action and animated television content across 16 series and supplies content across a range of platforms.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
