Paramount Global Evaluates $13.5 Billion Competing Bid from Project Rise Partners
Deal News | Jan 28, 2025 | EIN
Project Rise Partners (PRP), led by Daphna Edwards Ziman, Moses Gross, Zulfiquar Ghadiyali, and Prakash Chandak, submitted a $13.5 billion all-cash offer to acquire Paramount Global. This offer includes $19 per share for the B shares and maintaining the current offer for A shares, introducing a 75% premium to the previous Skydance offer. PRP plans to infuse $2 billion into Paramount's balance sheet, aiming to reinvigorate the company with a focus on digital and experiential offerings. Unlike the Skydance bid, stockholders would gain voting rights and maintain board governance. Paramount's board is urged to consider this offer, which aims to respect and empower stockholders. Legal precedents, such as the Delaware Supreme Court ruling, underscore the need for stockholder approval in transactions. Hiltzik Strategies is noted as a communications partner for the announcement.
Sectors
- Entertainment
- Private Equity
Geography
- United States – The article is centered in the United States, where Paramount Global is based and the acquisition deal is taking place.
Industry
- Entertainment – Paramount Global is part of the entertainment industry, which the article focuses on through the details of the acquisition offer.
- Private Equity – Project Rise Partners represents a private equity group involved in the acquisition offer for Paramount Global.
Financials
- $13.5 billion – Total offer by Project Rise Partners to acquire Paramount Global.
- 75% premium – Premium for B shares compared to Skydance's offer.
- $2 billion – Additional funds to be added to Paramount's balance sheet by PRP.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Paramount Global | Target Company | Company | A century-old entertainment company facing acquisition offers. |
| Project Rise Partners | Bidding Company | Company | A group proposing a $13.5 billion offer to acquire Paramount Global. |
| Skydance | Competing Bidder | Company | Previously submitted an offer for Paramount, now contested by PRP's new bid. |
| Daphna Edwards Ziman | Leader | Person | Part of the leadership team at Project Rise Partners. |
| Moses Gross | Leader | Person | Part of the leadership team at Project Rise Partners. |
| Zulfiquar Ghadiyali | Leader | Person | Part of the leadership team at Project Rise Partners. |
| Prakash (Kash) Chandak | Leader | Person | Part of the leadership team at Project Rise Partners. |
| Hiltzik Strategies | Public Relations | Company | Communications advisor for Project Rise Partners. |