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Apollo Global Offered $27 Billion for All of Paramount Global but the Bid Was Rebuffed
Apollo Global Management made a $27 billion offer to acquire all of Paramount Global but controlling Shari Redstone declined to engage with the bid.
Apollo submitted a cash bid on Sunday, March 31, to acquire Paramount Global in a deal worth more than $27 billion of total enterprise value, encompassing equity and debt, according to people familiar with the situation. NAI and Skydance have now entered into a provisional agreement covering such exclusive negotiations, likely with a basic outline of potential deal terms, according to sources. The stock shot up 15% in the final hour of trading Wednesday amid a cascade of media reports that Redstone, National Amusements Inc. and Skydance are moving closer to a deal.
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