责任编辑：栎树 美股频道更多独家策划、专家专栏，免费查阅>> 12月23日，据彭博，奈飞已对590亿美元过桥贷款的部分资金进行再融资，支持其潜在收购华纳兄弟探 索的交易。文件显示，奈飞通过50亿美元循环信贷额度及两笔各100亿美元的延期提款定期贷款，对为 收购华纳兄弟探索而设立的过桥贷款部分资金进行了再融资。这意味着仍有340亿美元的额度有待银团 分销。奈飞于12月初达成协议，对华纳兄弟影视制作及流媒体资产估值827亿美元。 ...

【导读】美股三大指数集体收涨 贵金属大爆发！黄金、白银齐齐创历史新高！铂金也逼近历史高点。 美股三大指数集体收涨 美东时间12月22日，临近假日，美股交投清淡，主要指数集体上涨。美股三大指数已连涨三日。 截至收盘，道指涨0.47%，报48362.68点；标普500指数涨0.64%，报6878.49点；纳指涨0.52%，报23428.83点。 默克涨超3%，摩根大通涨近2%，领涨道指。 消息面上，美国总统特朗普将在明年1月第一周指定美联储新主席人选。鲍威尔的四年主席任期将于明年5月届满，特朗普此前表示，他希望选择一位支持 增长友好型货币政策的继任者。 美联储理事米兰表示，如果美联储明年不继续降息，可能面临引发经济衰退的风险。他还表示，预计短期内不会出现经济下行，但失业率上升应促使美联 储官员继续降息。2026年票委、克利夫兰联储主席哈马克表示，在美联储最近连续三次会议降息之后，她认为未来几个月没有必要调整利率。她此前曾反 对近期的降息决定，更担心通胀居高不下而非劳动力市场疲软。 美财长贝森特表示，通胀正在向美联储2%的目标迈进，2026年将成为经济增长与通胀走势向好的一年，随着政府职位减少，经济状况会变得更好。 ...

Core Viewpoint - Warner Bros Discovery (WBD) is reviewing an unsolicited tender offer from Paramount Skydance to acquire its outstanding shares for $30 each in cash, while maintaining its commitment to the Netflix merger agreement [1][2][3]. Group 1: Tender Offer Details - Paramount Skydance's amended offer of $30 per share is not higher than previous bids but addresses concerns raised by WBD's CEO David Zaslav [2]. - The WBD Board previously rejected Paramount's offer, citing inadequate value and significant risks to shareholders, and reaffirmed its commitment to the Netflix merger agreement [3]. - WBD shareholders have until January 21 to respond to the amended tender offer, which includes a $40.4 billion personal equity financing guarantee from Larry Ellison and a $5.8 billion breakup fee [4]. Group 2: Financing and Risk Considerations - The previous offer from Paramount included a financing backstop from the Ellison Family Revocable Trust, which WBD deemed too risky [5]. - RedBird Capital's Gerry Cardinale stated that the trust issue was a distraction and has been removed from the proposal, allowing the offer to be taken more seriously [6].

1、美股三大指数集体收涨，道指涨0.47%，标普500指数涨0.6%，纳指涨0.5%；纳斯达克中国金龙指数 收涨0.58%；甲骨文涨3%，英伟达和特斯拉涨超1%，特朗普媒体科技集团跌超10%。 2、国际原油结算 价上涨2.6%；现货铂金升破2100美元/盎司关口，日内大涨6.6%。 3、全球最大 黄金ETF SPDR Gold Trust持仓较上日增加12.02吨，当前持仓量为1064.56吨；全球最大 白银ETF iShares Silver Trust持仓较上 日增加533.01吨，为2023年1月以来的最大单日增幅，当前持仓量为16599.25吨。 4、美国总统特朗普表 示，如果马杜罗摆出强硬姿态，这将是他最后一次能够摆出强硬姿态；还称正在建造三艘大型航空母 舰，新的舰艇将高程度地由 人工智能控制，还将增加航空母舰。 5、美媒报道，俄罗斯已开始撤离驻委 内瑞拉外交官家属，撤离行动从星期五开始，包括妇女和儿童，俄罗斯外交部官员正在以非常严峻的语 气评估委内瑞拉的局势。 6、据CNBC，熟悉情况的人士透露，美国总统特朗普可能在明年1月第一周任 命新的美联储主席。 7、美联储理事米兰敦促继续降息，但淡化降息5 ...

Core Viewpoint - Warner Bros. Discovery's board is set to review an offer from Larry Ellison to personally guarantee Paramount Skydance's $78 billion hostile takeover bid, amidst a competitive landscape that currently favors Netflix [1][6]. Group 1: Offer and Review Process - Larry Ellison's personal guarantee, valued at over $250 billion, is part of the strategy to bolster Paramount Skydance's bid, which has been extended to January 21 for investors to tender their shares [6]. - The board's review is anticipated due to the contentious nature of the bidding war, which may lead to legal disputes [2][10]. - Paramount Skydance is reportedly considering increasing its bid from $30 per share by up to 10%, but has no immediate plans to do so [7]. Group 2: Competitive Landscape - The Netflix offer is seen as facing regulatory challenges and relies on a stock component that has been declining in value, contrasting with Paramount Skydance's all-cash bid [11]. - WBD's cable properties are expected to be valued at up to $4 per share in a spin-off deal, potentially raising the overall value of the Netflix offer above Paramount Skydance's bid [12]. - Concerns have been raised regarding the debt levels associated with WBD's cable properties, which amount to $18 billion, suggesting that the valuation may be inflated compared to similar deals [14]. Group 3: Investor Sentiment - Only a small fraction of Paramount Skydance's investors have supported the bid, with just 400,000 shares voted out of 2.6 billion [7]. - Some investors, including Mario Gabelli, have expressed a preference for the Paramount offer and have called for Netflix to revise its proposal [14]. - There are allegations from Paramount Skydance that WBD's bidding process was biased in favor of Netflix due to personal connections between executives [16][17].

Group 1 - Dealmaking is expected to drive the market in 2026, with takeovers and acquisitions being a significant force for bullish trends [1] - The market is likely to experience a robust issuance in 2026, with potential public offerings from major private operators like OpenAI and SpaceX [2] - The current takeover battle for Warner Bros Discovery involves Paramount Skydance and Netflix, both backed by significant capital, indicating an increase in WBD's value [3] Group 2 - Cintas is attempting to acquire UniFirst, offering a $350 million reverse termination fee on a $5.2 billion deal, reflecting confidence in regulatory approval [4] - Potential deals in 2026 are viewed as strategic and valuable, with the potential to generate significant profits [5]

Core Viewpoint - Warner Bros. Discovery has received an unsolicited amended tender offer from Paramount Skydance Corporation to acquire all outstanding shares of its common stock, following a previous offer that was unanimously rejected by the WBD Board due to inadequate value and significant risks [1][3]. Group 1: Tender Offer Details - The amended tender offer from Paramount Skydance is a follow-up to a previous offer made on December 8, 2025, which was rejected by the WBD Board [3]. - The WBD Board will review the amended tender offer in consultation with independent financial and legal advisors, while adhering to the terms of its existing agreement with Netflix [2][4]. - WBD stockholders are advised not to take any action regarding the amended tender offer until the Board completes its review and provides a recommendation [4]. Group 2: Board's Position and Advisors - The WBD Board has not changed its recommendation concerning the Netflix Merger Agreement despite the new tender offer from Paramount Skydance [4]. - Financial advisors for Warner Bros. Discovery include Allen & Company, J.P. Morgan, and Evercore, while legal counsel is provided by Wachtell Lipton, Rosen & Katz, and Debevoise & Plimpton LLP [5].

【美股】截至收盘，道指涨227.79点，涨幅为0.47%，报48362.68点;纳指涨121.21点，涨幅为0.52%，报 23428.83点;标普500指数涨43.99点，涨幅为0.64%，报6878.49点。金银矿业股普遍收涨。Blue Gold(BGL.US)涨6.78%，Avino Silver & Gold Mines(ASM.US)涨6.54%，B2Gold(BTG.US)涨5.73%，First Majestic Silver(AG.US)涨4.97%，赫克拉矿业(HL.US)涨4.47%，AngloGold Ashanti(AU.US)涨4.41%，金 田 (GFI.US) 涨 4.12% ， 哈 莫 尼 黄 金 (HMY.US) 涨 3.87% ， 泛 美 白 银 (PAAS.US) 涨 3.81% ， 纽 曼 矿 业 (NEM.US)涨3.54%。 【欧股】德国DAX30指数跌4.43点，跌幅0.02%，报24283.97点;英国富时100指数跌31.45点，跌幅 0.32%，报9865.97点;法国CAC40指数跌30.31点，跌幅0.37%，报8121.07点;欧洲斯托克50指数跌18 ...

Do you think that the deal has to be sweetened. It can't just be about more for a breakup fee or good for the money in terms of Larry Ellison. >> Yeah, you know, it's a very clear picture of who's got the leverage here.Clearly WBD has suitors and David Zastaslav can just sit and fold his arms and say, "Look, you're not talking in my good ear yet, Paramount." And it's a it's not a dumb way to try to drive their offer up even higher. And that wouldn't surprise me. >> What do you think could be the quibbling a ...

Larry Ellison is throwing his personal fortune behind Paramount Skydance Corp.'s bid for Warner Bros. Discovery Inc., agreeing to provide an irrevocable personal guarantee of $40.4 billion in equity financing for the offer and any damages claims against Paramount. Paramount also offered to increase its regulatory reverse termination fee to $5.8 billion from $5 billion. Warner Bros. would have to pay $2.8 billion to Netflix if it backs out of its deal and goes with another suitor, according to terms of the ...