'Edgar Bronfman Jr. Still Eyeing A Paramount Deal' - Axios
Portfolio Pulse from Benzinga Newsdesk
Edgar Bronfman Jr. is still in talks about a potential bid for National Amusements Inc. (NAI), the parent company of Paramount Global. This comes after Paramount struck a deal with Skydance Media and RedBird Capital Partners, which includes a 45-day 'go shop' provision expiring on August 21st. Bronfman Jr.'s bid is backed by Bain Capital and could be between $2 billion and $2.5 billion. The Skydance deal values Paramount at $8 billion and includes a $400 million break-up fee.
July 30, 2024 | 4:00 pm
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Edgar Bronfman Jr. is considering a bid for National Amusements Inc., the parent company of Paramount Global, despite a recent deal with Skydance Media. The 45-day 'go shop' provision allows for a superior bid until August 21st.
The potential bid by Bronfman Jr. introduces uncertainty and potential upside for Paramount Global's stock price. The 'go shop' provision allows for a superior bid, which could lead to a higher valuation for the company.
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