Paramount Bidding War Intensifies As Edgar Bronfman Counters Skydance With $4.3B Offer, Plans to Raise More
Paramount Bidding War Intensifies As Edgar Bronfman Counters Skydance With $4.3B Offer, Plans to Raise More
A battle over media giant Paramount Global Inc (NASDAQ:PARA)(NASDAQ:PARAA) could be intensifying with former Warner Music CEO Edgar Bronfman Jr. trying to outbid Skydance for control.
前华纳音乐CEO埃德加·布朗夫曼尝试以更高价超越Skydance,加剧了对传媒巨头派拉蒙环球公司(纳斯达克: PARA)(纳斯达克: PARAA)的竞争。
What Happened: Bronfman submitted a bid of $4.3 billion Monday night and plans to bid higher in the coming days as the deadline for Paramount bids approaches.
事情进展:周一晚上,布朗夫曼提交了43亿美元的竞标,并计划在接下来的几天提高出价,因为派拉蒙竞标截止日期即将到来。
Skydance and National Amusements, which is the controlling shareholder of Paramount, previously agreed to a $28 billion merger that will launch a company called New Paramount. Under the terms of the deal, Paramount Class A shareholders (PARAA) will receive $23 per share, with Paramount Class B shareholders (PARA) getting $15 per share or one share of the newly created merged media company.
Skydance和Paramount的控股股东National Amusements先前达成了一项280亿美元的合并协议,将启动一个名为新派拉蒙的公司。根据协议条款,派拉蒙A类股东(PARAA)将获得每股23美元,派拉蒙B类股东(PARA)将获得每股15美元或者一股新成立的合并传媒公司的股份。
Bronfman's bid, which was reported by The Wall Street Journal, was seen as a placeholder to meet a deadline with a larger bid coming. Axios reported Tuesday that Bronfman has raised $5.5 billion to help with his bid for National Amusements.
据《华尔街日报》报道,布朗夫曼的竞标被视为为达到截止日期而提出的一个临时报价,更大的报价即将出现。Axios周二报道称,布朗夫曼已筹集了55亿美元,以帮助他竞购National Amusements。
Bronfman has vast experience in the media industry and currently serves as the Executive Chairman of FuboTV Inc (NYSE:FUBO). His plan to turnaround Paramount has not been made public, but reports link him to potentially assuming the CEO role of the new company.
布朗夫曼在传媒行业拥有丰富经验,目前担任FuboTV Inc(纽交所: FUBO)的执行主席。他关于如何扭转派拉蒙局势的计划尚未公开,但有报道称他有可能担任新公司的CEO。
The new financing from Bronfman comes from various investors and family offices. The Wall Street Journal initially reported that streaming company Roku Inc (NASDAQ:ROKU) was also approached to help with the buyout bid, but it is unclear if they were part of the final financing.
布朗夫曼的新一轮融资来自各种投资者和家族办公室。《华尔街日报》最初报道称,流媒体公司roku inc(纳斯达克: ROKU)也被联系帮助进行并购竞标,但尚不清楚他们是否参与了最终的融资。
Read Also: Paramount Global Q2 Earnings Highlights: Studio Posts Revenue Miss, DTC Segment Up 13%, Closing Date For Skydance Merger
阅读更多:派拉蒙环球公司第二季度收入亮点:制片部门营收不及预期,DTC业务增长13%,Skydance合并截止日期
Why It's Important: The initial talks between Skydance and National Amusements began back in December 2023 and the process has been long with several potential suitors reported before Skydance won the deal.
为何重要:Skydance和National Amusements之间的最初谈判始于2023年12月,整个过程漫长,传出了几位潜在买家,最终由Skydance赢得了这笔交易。
While Bronfman's potential $5.5 billion raised offer would fall short of Skydance's $8 billion bid, it avoids the $4.5 billion valuation tied to Skydance Media and the dilution concerns for existing Paramount shareholders.
虽然Bronfman可能筹集的55亿美元出价不及Skydance的80亿美元,但它避免了与Skydance Media相关的45亿美元估值和对现有Paramount股东的稀释担忧。
The initial $4.3 billion bid from Bronfman included $2.4 billion for National Amusements, $1.5 billion for Paramount to add to its balance sheet and pay down debt. The bid also includes $400 million to pay the Skydance breakup fee.
Bronfman最初的43亿美元出价包括24亿美元用于National Amusements,15亿美元用于Paramount增加资产负债表和偿还债务。这个出价还包括4000万美元用于支付Skydance的散伙费。
One major difference is Bronfman's bid didn't include a cash out offer for Class B shareholders.
一个主要的区别是Bronfman的报价不包括给B类股东的现金支付。
The current go-shop period ends on Aug. 21 for Paramount but could be extended if it has a serious counteroffer to consider. Paramount would be on the hook for a reported $400 million breakup fee to Skydance if it walks away from the previously agreed upon merger.
目前的go-shop期限将于8月21日结束,但如果出现认真的反要约,可以延长期限以进行考虑。如果Paramount违约取消之前达成的合并协议,将需要支付Skydance报告的4000万美元违约费用。
PARA, PARAA Price Action: Paramount (Class B) shares trade at $10.91 versus a 52-week trading range of $9.54 to $17.50. The shares are down 27% year-to-date in 2024.
PARA,PARAA价格走势:Paramount(B类股)股票交易价格为10.91美元,52周交易区间为9.54美元至17.50美元。该股票今年截至目前下跌27%。
Paramount (Class A) shares trade at $22.95 versus a 52-week trading range of $13.40 to $26.31. The shares are up 17% year-to-date in 2024.
Paramount(A类股)股票交易价格为22.95美元,52周交易区间为13.40美元至26.31美元。该股票今年截至目前上涨17%。
- Paramount Analysts Size Up Merger: Skydance Aims For Earnings, 'Not A Breakup,' Redstone Says Content Is King
- 派拉蒙分析师评估合并: Skydance旨在获得收益,Redstone表示内容为王,目的不是分手
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