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PARA Sep 2024 14.000 call
- Reuters SG
Deals of the day-Mergers and acquisitions
** Japanese whisky-maker Suntory Holdings is in talks to acquire U.S. brewer Boston Beer known for its Samuel Adams brand, the Wall Street Journal reported, citing people familiar with the matter. ** A special committee of Paramount Global's board agreed to recommend a deal with Skydance Media, the Wall Street Journal reported, citing people familiar with the matter.
- Yahoo Finance Video
April PCE, Skydance ups Paramount bid, Trump fallout: Catalysts
The core Personal Consumption Expenditures (PCE) index, which excludes volatile food and energy components, increased by 0.2% in April. This reading aligned with Wall Street's expectations but marked a slower pace than the 0.3% increase witnessed in March. In addition, Treasury yields (^TNX ^TYX, ^FVX) are on the decline this morning after this inflation data. Skydance Media submitted a new offer to Paramount Global (PARA) in its bid to acquire the media giant, according to the Wall Street Journal. Former President Donald Trump has become the first US president to ever be convicted of a felony. A New York jury found the former commander-in-chief guilty on all 34 charges related to his hush money trial. Investors are watching the fallout from the case closely, looking for any potential impacts on the broader market (^DJI, ^IXIC, ^GSPC) For more expert insight and the latest market action, click here This post was written by Nicholas Jacobino
- Reuters
Paramount's special committee agrees to recommend Skydance deal, WSJ reports
Reports on a takeover offer from Skydance Media and a consortium of Apollo Global Management and Sony Pictures, and another $30 billion bid from media entrepreneur Byron Allen have left the stock see-sawing for months. An exodus of advertisers and cord-cutting have hammered Paramount's traditional TV business, which accounts for more than half of its revenue. Media mogul Shari Redstone has received expressions of interest from at least two parties in buying all or part of her company National Amusements, which holds 77% of Paramount's Class A voting stock, the report said.
