MarketWatch·2026-02-24 14:27Core Viewpoint - The article suggests that in high-stakes bidding wars, the company that does not win the bid often ends up with better stock performance in the long run, indicating a strategic advantage in letting competitors win [1]. Group 1: Company Strategies - Paramount's shareholders should prefer that its bid to acquire Warner Bros. Discovery is rejected, as this could lead to better long-term outcomes for the company [1]. - Conversely, Netflix's shareholders should hope that its takeover bid for Warner Bros. Discovery is also rejected, allowing Paramount to succeed instead [1]. Group 2: Market Implications - Historical trends indicate that the "loser" in bidding wars often experiences superior stock performance, suggesting that avoiding overpaying in acquisitions can be beneficial [1].