Sony and Apollo make $26 billion cash offer for Paramount: report
By Jon Swartz
The bid is the second by private-equity giant Apollo
Sony Pictures and Apollo Global Management Inc. have submitted a $26 billion cash offer for Paramount Global.
The bid - the second by private-equity giant Apollo (APO) - was submitted Wednesday in an offer letter signed by Sony Pictures (SONY) CEO Tony Vinciquerra and Aaron Sobel, a partner at Apollo, according to a Wall Street Journal report citing people familiar with the situation.
The offer is a starting point for discussions and is nonbinding.
Shares of Paramount (PARA) are up more than 8% in trading Thursday.
-Jon Swartz
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05-02-24 1350ET
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