A Paramount Merger Will Be Tricky - Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 My Account Also Elon Musk’s Twitter sitter, AI fundraising, Republic First follows First Republic, and 24-hour versus 1-second trading. The economics of a Paramount Global acquisition are simple but tricky: Assume that you are willing to pay $12 billion of total equity value for the company, and that you will be compelled by competitive pressures to pay that amount. Two possible answers suggest themselves: Neither of those answers is really feasible: You’re not going to get the Class A holders to vote to sell their shares at a discount, and if you announce a plan to buy Redstone’s shares and stiff everyone else, Paramount’s board — which has fiduciary duties to all shareholders — will try to stop you. (The board of Paramount’

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 My Account Also Elon Musk’s Twitter sitter, AI fundraising, Republic First follows First Republic, and 24-hour versus 1-second trading. The economics of a Paramount Global acquisition are simple but tricky: Assume that you are willing to pay $12 billion of total equity value for the company, and that you will be compelled by competit