(Image Source: Netflix, Warner Bros. Pictures)
Just two days ago, Paramount Skydance, unwilling to see Warner Bros. Discovery agree to Netflix's $82.7 billion offer for its subsidiary Warner Bros. Pictures, quickly raised capital to increase its bid to $108.4 billion, aiming to acquire the entire Warner Bros. Discovery. However, Bloomberg has now revealed that despite Warner Bros. Discovery being given 10 business days to respond to Paramount Skydance, its board has no intention of canceling the merger agreement signed with Netflix last week.
(Image Source: Paramount Skydance)
Bloomberg predicts that this bidding war will not conclude within the remaining eight days. Paramount Skydance may continue to extend its acquisition offer, file lawsuits to block the Netflix-Warner Bros. Discovery transaction, or further sweeten its terms, potentially dragging the saga out until the end of the year. Sources close to Bloomberg also indicated that both Netflix and Paramount Skydance still possess the financial capacity to raise their offers. However, before taking any further steps, Paramount Skydance must first assess how much support it can garner from Warner Bros. shareholders to successfully overturn the Netflix deal.
via： Bloomberg