Paramount’s merger: all the news on the drawn-out takeover drama
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Skydance wants Paramount to stop shopping around.
In a letter seen by The Wall Street Journal, Skydance’s lawyers accuse Paramount of breaking their merger agreement by dragging out the amount of time it can review other bids, and said:
While Skydance is not currently exercising its right to terminate the Transaction Agreement, we reserve the right to do so in the future.
Paramount extended its “go shop” period after receiving a $6 billion bid from media investor Edgar Bronfman Jr.
Exclusive | Skydance Demands That Paramount Stop Negotiating With Edgar Bronfman
[The Wall Street Journal]
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