Paramount has officially proposed to purchase Warner Bros. Discovery (WBD) shares for $30 per share in cash, reports CNBC.
The offer is supported by $41 billion in equity financing, with additional funding expected to be provided by RedBird Capital and Affinity Partners, the latter of which is owned by Donald Trump’s son-in-law Jared Kushner. The WBD leadership has ten days to formally respond to the proposal.
After this period, Paramount reserves the right to extend the offer to shareholders. During this time, any WBD shareholder can sell their shares to Paramount at the price of $30 per share.
If Paramount succeeds in acquiring 51% of the shares in circulation, the company will take control of Warner Bros. Discovery.
Raymond James analyst Rick Prentiss has stated that the offer is expected to receive significant support from shareholders.
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