Get the latest gossip
Delaware Judge Expedites Review Of Paramount-Skydance Merger In Shareholder Suit But Declines To Block It As Case Unfolds
A Delaware Chancery Court judge agreed to expedite a suit by a group New York City pension funds against Paramount and Skydance but denied their requiest for a temporary restraining order.
A Delaware Chancery Court judge has agreed to expedite a suit by a group New York City pension funds that are shareholders of Paramount Global against would be merger partners Par and Skydance, but denied their request for a temporary restraining order while the case plays out. The merger, its says, will deliver hundreds of millions of dollars in non-ratable benefits to Paramount’s controlling stockholder, Shari Redstone, who approved the deal, which also carries a $400 termination fee and does not include a fiduciary-out provision. There’s a lively Paramount docket in Chancery Court currently with Rhode Island pension funds and investor Mario Gabelli proceeding with two cases requesting complete information and documentation on the financial terms.
Or read this on Deadline