Sony, Apollo Make Formal Overture To Paramount Board To Discuss Potential $26 Billion Deal
Apollo Management(APO) Deadline·2024-05-03 02:23
Partners Sony and Apollo have formally reached out to Paramount‘s special board committee asking to discuss a potential $26 billion offer, Deadline has learned. It comes as Par’s exclusive negotiating window with David Ellison‘s Skydance is set to expire. Paramount share jumped 12% on the news. Investors would vastly prefer a Sony/Apollo acquisition to a Skydance deal as it currently configured, even after Skydance made a revised offer, that was said to be its best and last, last week. Sony and Apollo’s o ...