Sony Pictures, Apollo Offer to Buy Paramount Global for $26 Billion in Cash: Report
variety.comTodd Spangler NY Digital Editor In the latest twist in Paramount Global‘s M&A saga, Sony Pictures Entertainment and Apollo Global Management reportedly have made a bid to take Paramount private with an all-cash buyout offer of $26 billion.
Sony and private-equity giant Apollo submitted an offer letter Wednesday to Paramount Global, the Wall Street Journal reported Thursday.
The report comes as Paramount Global board’s special committee established to consider M&A proposals is evaluating the best and final offer from Skydance Media to merge Paramount and Skydance, while keeping Paramount Global public.
Shari Redstone, the controlling shareholder of Paramount Global, is known to prefer deal with David Ellison’s Skydance, whose bid is backed by RedBird Capital Partners and KKR.
Read more on variety.com
