TECH - Why Is Sony Stock Trading Higher On Tuesday? | Benzinga
Sony Group Corp (NYSE:SONY) stock gained Tuesday as Paramount Global (NASDAQ:PARA) (NASDAQ:PARAA) agreed to merge with Skydance Media, creating “New Paramount,” which values the combined entity at $28 billion.
In 2024, Sony stock came under pressure after the company, alongside Apollo Global Management Inc (NYSE:APO), submitted a joint $26 billion bid to acquire Paramount Global.
The offer has raised concerns about Sony’s ability to manage the acquisition, as the proposed deal surpasses Sony’s current cash reserves.
Sony stock also got a boost from Japanese ...