Byron Allen Submits a $30 Billion Offer for Paramount Global, Including Debt and Equity

Media mogul Byron Allen has extended yet another multibillion-dollar takeover offer — this time, making a $14.3 billion bid to buy all of the outstanding shares of Paramount Global.

Allen offered $28.58 each for the voting shares of Paramount, a 50% premium to recent trading, and $21.53 for the non-voting shares, according to people familiar with his terms, asking not be identified because they aren’t public. Including existing debt, the total value of the deal rises to about $30 billion.

It’s unclear exactly how Allen would pay for a takeover. He has also tried to line up funding in recent months to make a bid for several television stations from broadcaster E.W. Scripps Co. and made a $10 billion offer to Walt Disney Co. last year to buy its ABC TV network, local stations, as well as the FX and National Geographic cable channels.

Read the source article at Yahoo Finance