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Sony, Apollo Make Formal Overture To Paramount Board To Discuss Potential $26 Billion Deal

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deadline.com
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Partners Sony and Apollo have formally reached out to Paramount‘s special board committee asking to discuss a potential $26 billion offer, Deadline has learned.

It comes as Par’s exclusive negotiating window with David Ellison‘s Skydance is set to expire. Paramount share jumped more than 12% on the news.

Investors would vastly prefer a Sony/Apollo acquisition to a Skydance deal as it is currently configured, even after Skydance made a revised offer, that was said to be its best and last, last week.

Sony and Apollo’s overture is really jus a start, a non-binding expression of interest, Deadline has learned, in meeting and exploring the contours of a possible deal.

Read more on deadline.com
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