Apex Capital Trust has submitted a competing all-cash offer to acquire Paramount Global for up to $43 billion.
The offer, which was sent to controlling shareholder Shari Redstone’s National Amusements and the media conglomerate’s independent special committee on July 12, comes after Redstone reached an agreement with David Ellison’s Skydance Media.
Under the Skydance merger’s 45-day go-shop provision, Paramount has until Aug. 21 to identify and evaluate competing offers that would be superior to Skydance’s deal.
More to come..
