In the latest twist in Paramount Global’s M&A saga, Sony Pictures Entertainment and Apollo Global Management have made a bid to take Paramount private with an all-cash buyout offer of $26 billion.
Sony and private-equity giant Apollo submitted a letter with the non-binding offer Wednesday to Paramount Global, as first reported by the Wall Street Journal. The bid, which would include the assumption of debt and could be negotiated, would be a premium over the company’s current $22 billion enterprise value.
The tag-teamed buyout bid comes as Paramount Global board’s special committee established to consider M&A proposals is evaluating the best and final offer from Skydance Media
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