Warner Bros Discovery has rebuffed Paramount Skydance‘s preliminary takeover strategy as too low, Bloomberg Information reported on Saturday.
Warner Bros rejected Paramount’s supply of round $20 per share in current weeks, the report stated, citing individuals acquainted with the matter.
Warner Bros and Paramount didn’t instantly reply to a Reuters request for remark.
Paramount, led by David Ellison, is exploring a number of paths in its bid for Warner Bros., together with rising its supply, interesting on to shareholders, or securing additional assist from a monetary companion, Bloomberg report added, citing sources.
Paramount has been in talks with various asset supervisor Apollo World Administration about backing its bid, Bloomberg reported earlier this week.
Ellison, took over Paramount in August after finishing an $8 billion merger together with his movie manufacturing firm Skydance Media.