Paramount Global 'Go-Shop' Period Ends as Bronfman Withdraws Offer-March 2024-www.financetom.com

Paramount Global 'Go-Shop' Period Ends as Bronfman Withdraws Offer

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Paramount Global 'Go-Shop' Period Ends as Bronfman Withdraws Offer

Aug 29, 2024 2:37 AM

04:36 AM EDT, 08/27/2024 (MT Newswires) -- Paramount Global ( PARAA ) said late Monday the "go-shop" period under its merger agreement with Skydance Media has ended following the withdrawal of a rival buyout offer from a group of investors led by Edgar Bronfman Jr.

The company said its special committee contacted more than 50 third parties to solicit competing offers during the go-shop period.

Closing of the Skydance deal is expected to occur in H1 2025, subject to customary conditions.

Bronfman did not immediately respond to MT Newswires' request for comment.

In a statement cited by Reuters, Bronfman said his group has notified Paramount's special committee of its decision to withdraw.

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