Door open for rival bid to disrupt $8B…
A Delaware decide ruled that Paramount Global’s $8 billion merger with Skydance Media can transfer ahead — however nonetheless left the door open for a last-minute, rival bid that insiders say may derail the deal.
Kathaleen McCormick, the chief decide of Delaware’s Chancery Court, denied a request by New York City’s pension funds to block the deal with a momentary restraining order so as to open up a bidding struggle between Skydance and an investor consortium referred to as Project Rise Partners, which has supplied $8.8 billion for the media giant.
The decide gave the pension funds…
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