WARNER BROS. REJECTS PARAMOUNT AGAIN BUT ASKS FOR “BEST AND FINAL OFFER”

Summary from the TLDR newsletter

Warner Bros. Discovery is giving Paramount one more week to make its best and final offer despite officially still being committed to Netflix. The company has recommended shareholders vote for the Netflix merger. Netflix has provided Warner Bros. with a limited waiver that permits Warner Bros. to engage in discussions with Paramount until February 23. Netflix is set to pay $27.75 per share for an acquisition that includes HBO Max, WB Studios, and other assets. Paramount has offered $31 per share, but it wants to buy the entire company.