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Mergers Acquisitions

All articles tagged with #mergers acquisitions

Brussels Antitrust Review Could Slow Paramount-WBD Merger
business3 days ago

Brussels Antitrust Review Could Slow Paramount-WBD Merger

The European Commission is set to conduct a multi-stage antitrust review of Paramount's $110 billion deal to merge with Warner Bros. Discovery, a process expected to slow the transaction more than block it. After a 25-working-day preliminary check, Brussels could launch a Phase II review, potentially stretching the timeline beyond a year. The EU will scrutinize overlaps across cinema distribution, TV channels, and streaming platforms, and may require divestitures; the UK review might be simpler. Financing from Middle Eastern funds and the EU's foreign subsidies rules add another layer of scrutiny. Overall, while approval remains likely, EU hurdles could push the close further out than in the U.S.

via The Hollywood Reporter|
#business#eu-antitrust#mergers-acquisitions
Netflix Walks Away from Warner Bros. Deal, Opening Door to Ellison's Paramount Skydance Bid
business8 days ago

Netflix Walks Away from Warner Bros. Deal, Opening Door to Ellison's Paramount Skydance Bid

Netflix has pulled out of its $83 billion bid to acquire Warner Bros. Discovery after Paramount Skydance submitted a higher offer, paving the way for David Ellison’s bid to take the deal forward. Warner Bros. Discovery labeled Ellison’s offer superior, while Netflix said the transaction was no longer financially attractive. Regulators in the U.S. and Europe will scrutinize any sale, and Netflix could potentially re-enter if Paramount is blocked, though the outcome currently favors Ellison’s consolidation of HBO, CNN, and the Warner film studio under Paramount Skydance.

via The New York Times|
#business#entertainment-industry#mergers-acquisitions
WBD weighs rival Paramount bid against Netflix deal amid higher offer
business10 days ago

WBD weighs rival Paramount bid against Netflix deal amid higher offer

Warner Bros. Discovery says Paramount Skydance has submitted a higher bid and its board will review it under the Netflix deal. If Paramount’s offer is deemed superior, Netflix will have four days to improve its bid; Netflix previously agreed to acquire WBD’s studio and streaming assets for $27.75 per share (~$72 billion in assets, ~$82.7 billion enterprise value). Paramount’s tender values WBD at $30 per share in a hostile bid. If Paramount wins and Netflix doesn’t raise its bid, a $2.8 billion breakup fee would be paid. A combined Paramount-WBD would merge HBO Max with Paramount+, with CNN and CBS News under one umbrella, both deals needing regulatory approval amid antitrust concerns.

via CNBC|
#business#corporate-finance#entertainment-news
Gilead buys Arcellx for $7.8B to bolster CAR-T push against Carvykti
business11 days ago

Gilead buys Arcellx for $7.8B to bolster CAR-T push against Carvykti

Gilead agreed to acquire Arcellx for about $7.8 billion in cash to take full control of the BCMA-targeted CAR-T therapy anito-cel as FDA review proceeds, paying $115 a share—a 68% premium to Arcellx's 30-day VWAP with a $5-per-share contingent payout if global sales reach $6 billion by 2029; the deal aims to sharpen Gilead's cell-therapy portfolio and compete with J&J/Legend's Carvykti, with analysts noting anito-cel's safety profile and potential to restore momentum for Gilead's Kite unit.

via Fierce Biotech|
#biotech#business#car-t
Paramount Clears DOJ Hurdle in WBD Bid, Yet Regulatory Clouds Loom
business14 days ago

Paramount Clears DOJ Hurdle in WBD Bid, Yet Regulatory Clouds Loom

Paramount says the Hart-Scott-Rodino waiting period for its unsolicited $30-a-share bid for Warner Bros. Discovery has expired, signaling no U.S. statutory obstacle to closing, but the deal still faces global regulatory scrutiny and a separate Netflix-led bid for WBD assets; the DOJ remains involved via a second information request and potential additional review, while WBD shareholders vote March 20 on the Netflix deal and spin-out, and lawmakers probe Paramount's Trump-era contacts—leaving the ultimate outcome still uncertain.

via Deadline|
#antitrust#business#media
Netflix-Led sentiment grows among WBD staff as sale trumps Paramount bid
business15 days ago

Netflix-Led sentiment grows among WBD staff as sale trumps Paramount bid

Warner Bros. Discovery staff sentiment has shifted in favor of Netflix’s plan to buy the studio and HBO Max over Paramount Skydance’s takeover bid, aided by Netflix’s assurances to keep the Warner Bros. brand and slate intact. While pockets remain skeptical about Netflix ownership and the theatrical model, many employees have warmed to the idea after a town-hall with Netflix leaders. WBD’s board is backing the Netflix deal ahead of a March 20 shareholder vote, and Paramount’s counteroffer window closes Feb. 23, leaving the outcome to ongoing negotiations. If the deal closes, Netflix could expand the business in ways such as consumer products and theme parks, while preserving much of the existing Warner Bros. structure and operations.

via Variety|
#business#hollywood#mergers-acquisitions
Netflix switches to all-cash bid to block Paramount over Warner Bros Discovery
business1 month ago

Netflix switches to all-cash bid to block Paramount over Warner Bros Discovery

Netflix has converted its $82.7 billion offer for Warner Bros Discovery into an all-cash deal at $27.75 per share to streamline the transaction and blunt Paramount Skydance’s rival bid; WBD’s board unanimously backs the Netflix plan, which would also spin off Discovery Global and could see a stockholder vote as early as April, while Paramount presses a proxy fight and litigation.

via The Guardian|
#business#media#mergers-acquisitions