Lack of clarity casts ‘shadow’ on reported Paramount bid, says MoffettNathanson

MoffettNathanson notes that Bloomberg reported that Byron Allen has placed a bid for all outstanding Paramount shares and is said to be offering $28.58 per voting share and $21.53 per non-voting share, which including taking on Paramount’s roughly $15B in debt would make the value of the total offer $30B. However, the fact that the financing behind the bid is currently unclear casts “a shadow on the offer’s credibility,” says the analyst, who has a Neutral rating on Paramount shares.