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Warner Bros Discovery stock price rises on acquisition bid news
Investing.com – Warner Bros. Discovery (NASDAQ:WBD) stock rose 1.5% on Monday, following reports that Paramount is expected to submit a revised offer of $32 per share.
Variety reported that sources revealed Paramount’s improved bid could be $32 per share, higher than the previous offer of $30 per share. David Ellison’s Paramount Skydance faces a Monday deadline to submit its best and final offer for Warner Bros. Discovery in an effort to outbid Netflix.
The Warner Bros. Discovery board has opened a seven-day window allowing Paramount to submit an improved bid if Netflix agrees. This discussion period will end at 11:59 p.m. Eastern Time on February 23, after teams from both companies worked over the weekend.
According to reports, Paramount declined to comment on its next steps.
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