CROWN HIM!!!!!!!!
Media entrepreneur Byron Allen has submitted a $30 billion offer for Paramount Global, including debt and equity.
www.cnbc.com
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Basically, they turned down his initial offer, so now he's gonna bring it straight to the shareholders by attempting a hostile takeover.
Stocks already up close to 7% today.
Perfect chess move.
Simply because, if the board turns him down, they're gonna have to answer to the shareholders and have to explain why they didn't accept the offer since it would increase shareholder value.
Also, if they turn him down now, the stock price is gonna go down.
Which will probably put more pressure on the board because then the shareholders would start calling for the board to be replaced.
Gonna be interesting to see how this turns out.