By Despite months of of M&A talks, it’s looking like Paramount Global will be going it alone for now.
Variety reports that offers from both Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management aren’t looking like they will take place.
A special committee established by Paramount Global’s board to evaluate M&A proposals has reportedly not notified Skydance one way or the other about its best and final offer – even as the exclusive negotiating window is set to expire today.
Sources for the trade say the special committee will review the joint Sony-Apollo offer of a $26 billion all-cash buyout premium after the Skydance negotiating window expires.
They also expect that proposal to be declined due to the regulatory hurdles required to complete it, along with major shareholder Shari Redstone whom has final say on any deal and whom THR says is “unenthusiastic about that deal”.
The situation is said to remain fluid with no definitive decisions made as yet. Should it go it alone then Paramount will likely make deals to cut its debt load.
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