Warner Bros. Discovery sent a message to Larry Ellison: If you want to buy our company, sign on the dotted line yourself.
Warner urged its shareholders Wednesday morning to reject Paramount Skydance’s hostile takeover bid, saying the Ellison family-led bid was inadequate on multiple levels compared with that of rival Netflix.
Warner said it had lingering concerns about the financing, including the use of an Ellison family trust to backstop the deal. The company wants Larry Ellison to give a stronger personal guarantee that he, not an opaque trust, is fully committed to the $77.9 billion bid.
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