Warner Bros. board is considering a new acquisition offer from Paramount and urges shareholders not to take action.
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The parent company of HBO and CNN stated in a declaration that the board will evaluate the latest acquisition offer and respond accordingly. Warner Bros. did not specify the exact terms of the new offer, but according to a Bloomberg report on Monday, the offer is higher than Paramount's previous proposal of $30 per share. According to the terms of the merger agreement, if the Warner Bros. board considers Paramount's new offer to be superior to the Netflix offer it has already accepted, Netflix will have four days to present a new bid.
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