Mergers & Antitrust Law News

CBS Sued by Investor Seeking Files on $11.7 Billion Viacom Deal

Nov. 22, 2019, 7:05 PM

A CBS Corp. investor asked a judge to force the broadcaster to turn over files about its $11.7 billion merger with Viacom Inc. so it can determine whether the deal unfairly benefits Shari Redstone, the companies’ controlling shareholder.

The deal, set to close in the first week of December, may have resulted from “potential wrongdoing” by Redstone, Corinne Amato, an attorney for the Bucks County Employees Retirement Fund, told a Delaware judge on Friday.

“Nobody likes this deal, beyond Shari Redstone,” Amato told Delaware Chancery Judge Joseph Slights III, who said he’d rule on the fund’s...

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