Paramount Global’s board is fighting a last-minute bid that could sink its $8 billion merger with Skydance Media LLC—the latest legal hurdle in Delaware Chancery Court for a deal that’s supposed to close in the first half of this year.
Friday: N.Y. City Emp. Ret. Sys. v. Byrne, Del. Ch., No. 2025-0126, phone hearing 2/21/25.
At issue: The New York City public pension funds that brought the lawsuit seek to expedite the litigation. The challenge follows the Paramount board transaction committee’s assertion that it’s contractually obligated to ignore a $13.5 billion bid from an investor consortium called Project Rise ...
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