The betting site Polymarket just gave Paramount a boost after its announcement of a $108 billion hostile takeover bid to buy Warner Bros Discovery (WBD) out from under Netflix.
Paramount stepped up its battle to win the right to buy Warner’s entertainment arms on Monday by offering a $30-per-share all-cash tender directly to WBD’s board of directors.
The hostile bid values Warner at an enterprise value of $108.4 billion and represents a 139 percent premium to the company’s September 10 stock price of $12.54, before deal speculation began. Paramount argues its offer provides shareholders $18 billion more in cash than Netflix’s offer of $82.7…
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