Warner Bros. rejects Paramount bid
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After Paramount accused Warner Bros. of treating it unfairly during the deal talks, Warner Bros. has now gone on the offensive, telling shareholders that the Ellisons, the family that controls Paramount, "consistently misled" them about guarantees of the deal's funding, according to a new filing.
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Paramount-Warner fight shows the hostile takeover is back. So are the egos of the combatants
Among the more notable flameouts was the hostile takeover of TWA by Icahn in 1986. The contest began with Icahn’s quest to drive up the price of the TWA stock he was holding, but he surprised the market by actually trying to run the airline.
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Why Paramount (PSKY) shares are trading lower today
What Happened? Shares of multinational media and entertainment corporation Paramount (NASDAQ:PSKY) fell 2.4% in the afternoon session after several analysts issued “Sell” ratings amid concerns about the company's valuation following its hostile bid for Warner Bros.