Warner Bros Discovery to reject Paramount’s $108.4B bid, CNBC says

Investing.com -- Warner Bros Discovery is expected to reject Paramount Skydance’s amended $108.4 billion hostile bid, CNBC reported on Tuesday.

The rejection would set aside Paramount’s efforts to strengthen its financing through a $40.4 billion personal guarantee from Oracle co-founder Larry Ellison.

Warner Bros Discovery appears to remain focused on pursuing a rival cash-and-stock deal with Netflix. The decision reportedly reflects concerns about valuation, strategic fit, and deal certainty, despite Paramount’s attempts to make its offer more attractive.

Paramount had announced that Ellison agreed to personally guarantee equity financing for the bid, a move designed to address doubts surrounding its earlier proposal.

The company also increased its regulatory reverse termination fee and extended the deadline for its tender offer. The all-cash value remained at $30 per share.

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