Paramount shares drop as on report that Sony and Apollo’s bid is 'fading'

Paramount shares drop as on report that Sony and Apollo’s bid is 'fading'

Shares of Paramount Global fell more than 5% in Tuesday trading after CNBC, citing sources familiar with the matter, reported that

However, a special committee of Paramount's board, which is reviewing the company's options, allowed an exclusivity period with Skydance to lapse earlier this month. Paramount would then acquire Skydance in an all-stock transaction valued at approximately $5 billion. Skydance also offered a $3 billion deal sweetener, combining share buybacks and cash to help pay down debt.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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