Merger Math: Paramount Suit Wants WBD To Show Its Work

Paramount has sued Warner Bros. Discovery seeking specific numbers and calculations the board used to rebuff its $30 a share cash offer in favor of a deal with Netflix, claiming WBD advised shareholders to reject its tender offer “without disclosing basic, fundamental pieces of information.” Like in math class, it wants WBD to show its work. The suit in Delaware Chancery Court asks the judge to expedite the case with the deadline for WBD stockholders to tender their shares looming Jan. 21. “WBD’s stockhold ...