share_log

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

隨着Edgar Bronfman 以43億美元的報價反擊 Skydance,Paramount的競標戰變得更加激烈,他計劃籌集更多資金。
Benzinga ·  08/20 11:39

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.

前華納音樂CEO埃德加·布朗夫曼嘗試以更高價超越Skydance,加劇了對傳媒巨頭派拉蒙環球公司(納斯達克: PARA)(納斯達克: PARAA)的競爭。

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.

事情進展:週一晚上,布朗夫曼提交了43億美元的競標,並計劃在接下來的幾天提高出價,因爲派拉蒙競標截止日期即將到來。

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的控股股東National Amusements先前達成了一項280億美元的合併協議,將啓動一個名爲新派拉蒙的公司。根據協議條款,派拉蒙A類股東(PARAA)將獲得每股23美元,派拉蒙B類股東(PARA)將獲得每股15美元或者一股新成立的合併傳媒公司的股份。

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.

據《華爾街日報》報道,布朗夫曼的競標被視爲爲達到截止日期而提出的一個臨時報價,更大的報價即將出現。Axios週二報道稱,布朗夫曼已籌集了55億美元,以幫助他競購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.

布朗夫曼在傳媒行業擁有豐富經驗,目前擔任FuboTV Inc(紐交所: FUBO)的執行主席。他關於如何扭轉派拉蒙局勢的計劃尚未公開,但有報道稱他有可能擔任新公司的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.

布朗夫曼的新一輪融資來自各種投資者和家族辦公室。《華爾街日報》最初報道稱,流媒體公司roku inc(納斯達克: ROKU)也被聯繫幫助進行併購競標,但尚不清楚他們是否參與了最終的融資。

Read Also: Paramount Global Q2 Earnings Highlights: Studio Posts Revenue Miss, DTC Segment Up 13%, Closing Date For Skydance Merger

閱讀更多:派拉蒙環球公司第二季度收入亮點:製片部門營收不及預期,DTC業務增長13%,Skydance合併截止日期

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.

爲何重要:Skydance和National Amusements之間的最初談判始於2023年12月,整個過程漫長,傳出了幾位潛在買家,最終由Skydance贏得了這筆交易。

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.

雖然Bronfman可能籌集的55億美元出價不及Skydance的80億美元,但它避免了與Skydance Media相關的45億美元估值和對現有Paramount股東的稀釋擔憂。

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43億美元出價包括24億美元用於National Amusements,15億美元用於Paramount增加資產負債表和償還債務。這個出價還包括4000萬美元用於支付Skydance的散夥費。

One major difference is Bronfman's bid didn't include a cash out offer for Class B shareholders.

一個主要的區別是Bronfman的報價不包括給B類股東的現金支付。

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期限將於8月21日結束,但如果出現認真的反要約,可以延長期限以進行考慮。如果Paramount違約取消之前達成的合併協議,將需要支付Skydance報告的4000萬美元違約費用。

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價格走勢:Paramount(B類股)股票交易價格爲10.91美元,52周交易區間爲9.54美元至17.50美元。該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類股)股票交易價格爲22.95美元,52周交易區間爲13.40美元至26.31美元。該股票今年截至目前上漲17%。

  • Paramount Analysts Size Up Merger: Skydance Aims For Earnings, 'Not A Breakup,' Redstone Says Content Is King
  • 派拉蒙分析師評估合併: Skydance旨在獲得收益,Redstone表示內容爲王,目的不是分手

Photo: 4kclips/Shutterstock.com

照片:0.4萬.lips / Shutterstock.com

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
    搶先評論