Skydance Deal In Hand, Paramount Lays Out What Happens If A Rival Offer Emerges

Paramount has laid out some terms of its planned merger with David Ellison’s Skydance including what happens if another bidder appears.

The deal includes a so-called “go shop” period during which other interest parties can submit offers. It runs for 45 days from the announcement of the deal, which was unveiled late Sunday night. The company said today that the go shop runs through 11:59 pm Easter Time on August 21 and can be extended through September 5 if good faith talks are underway for a better offer.

“If the Company is engaged in the aforementioned activities with any third parties that contacted the Company and made an alternative acquisition proposal during the go-shop period that the Company Special Committee has determined in good faith is or would reasonably be expected to lead to a Superior Proposal … then the Company may, prior to the No-Shop Period Start Date, extend the go-shop period and the No-Shop Period Start Date until September 5, 2024, in order to continue to engage in such activities with such third parties upon written notice to Skydance.”

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