Paramount's Sweetened Offer Boosts Warner Bros. Discovery Shares

Warner Bros. Discovery shares surged by 3.3% in afternoon trading after Paramount enhanced its takeover bid with a personal guarantee from billionaire Larry Ellison for $40.4 billion. This move alleviated concerns from Warner Bros. Discoverys board about Paramounts ability to close the $30 per share all-cash offer. The stock, which has seen significant volatility, closed at $28.73, up 2.8% from the previous day, and is now trading near its 52-week high. Despite long-term holders barely breaking even, the recent buzz keeps Warner Bros. Discovery in the spotlight as the bidding war intensifies.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.