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Judge Declines To Block Paramount-Skydance Merger But Sets Pension Fund Lawsuit On Expedited Schedule
The Delaware judge said that the lawsuit will determine if a rival bid must be considered.
A Delaware judge declined to order an immediate halt to Skydance ‘s proposed acquisition of Paramount Global, but has set an expedited schedule for considering a pension fund shareholder lawsuit as the transaction faces regulatory approval. Kathaleen St. Jude McCormick, chancellor in the Court of Chancery, declined to issue a temporary restraining order, which would have sidelined the merger. The transaction is scheduled to close on March 20, but the parties can extend the end date twice by 90 days if they have not received FCC approval, the judge noted.
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