Paramount Global will have until Aug. 21 at 11:59 p.m to actively solicit and evaluate alternative acquisition proposals as part of a 45-day go-shop period under its merger agreement with David Ellison’s Skydance Media.
But, according to a new 8-K filing with the U.S. Securities and Exchange Commission on Thursday, that window can be extended to Sept. 5 in the event that the media conglomerate’s independent special committee enters talks with a rival bidder that it has “determined in good faith is or would reasonably be expected to lead to a Superior Proposal.”
Paramount will be subject to certain restrictions on its ability to solicit alternative acquisition proposals, provide non-public information and engage in discussions and enter into an agreement with third parties.
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