Reported Earlier, Paramount Global Extends "Go Shop" Period Following Acquisition Proposal From Edgar Bronfman Jr. And Investor Consortium

Author: Benzinga Newsdesk | August 22, 2024 03:46am

 The Special Committee of the Board of Directors (the "Special Committee") of Paramount Global (NASDAQ:PARA, PARAA))))) ("Paramount" or "the Company") today announced the receipt of an acquisition proposal from Edgar Bronfman, Jr., on behalf of a consortium of investors (the "Bronfman Consortium"), that the Special Committee has determined qualifies the Bronfman Consortium as an "Excluded Party" under the terms of the Skydance transaction agreement.  As a result, the "go shop" period is extended for the Bronfman Consortium until September 5, 2024, pursuant to the transaction agreement to which the Company remains subject.

Posted In: PARA