PEJ - Why Is Paramount Global Stock Surging In Monday's Premarket Session? | Benzinga
Paramount Global (NASDAQ:PARA) shares are trading higher after the company inked a definitive merger deal with Skydance Media to form “New Paramount” at an enterprise value of about $28 billion.
The merger offer represents a 48% premium over the price of the Class B stock as of July 1, 2024, and a 28% premium over the Class A stock on the same date.
As per the deal, existing Skydance investors will receive 317 million newly issued Class B shares in New Paramount, valuing Skydance at $4.75 billion, based on a share price of $15 for Paramount Class B shares.
The Skydance Investor Group, led by the Ellison Family and RedBird Capital Partners, plans to invest $2.4 billion in cash to acquire National Amusements, along with $4.5 billion for stock/cash merger consideration for Class A and Class ...