Paramount Skydance (PSKY) is taking its bid for Warner Bros. Discovery (WBD) directly to shareholders after getting shut out by Netflix (NFLX). The company announced on Monday that it will offer $30 per share in cash, the same price Warner Bros. rejected last week. This values the entire company at $108.4 billion.
The hostile takeover attempt comes after Netflix agreed to buy Warner Bros.'s studio and streaming assets for $27.75 per share just days earlier. Paramount argues its all-cash deal is worth $17.6 billion more to shareholders and keeps the company intact instead of breaking it up.
