TECH - Sony's Bold $26B Paramount Bid Raises Eyebrows: Can They Finance It? | Benzinga
Sony Group Corp’s (NYSE:SONY) shares experienced a significant drop, the largest in nearly three months, following its joint $26 billion bid with Apollo Global Management Inc (NYSE:APO) to purchase American multinational mass media and entertainment conglomerate Paramount Global (NASDAQ:PARA).
The offer has sparked concerns about Sony’s financial capacity to handle the acquisition, as the proposed deal exceeds Sony’s current cash reserves.
Despite the concerns, market analysts suggest that more apparent financing plans could shift focus to the deal’s potential benefits, Bloomberg reports.
Sony, which has about ...