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Apollo Global Offered $27 Billion for All of Paramount Global but the Bid Was Rebuffed

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variety.com

Todd Spangler NY Digital Editor Private-equity giant Apollo Global Management made a $27 billion offer to acquire all of Paramount Global this week, sources familiar with the bid told Variety.

However, the special committee set up by the Paramount Global board of directors to consider M&A options declined to engage with the bid.

Apollo submitted an all-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.

That came after Apollo had offered $11 billion to buy Paramount Pictures alone, a bid that was also rebuffed by Paramount’s committee.

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