Research · Apr 13, 2026
PARA-WBD Merger: $110B Deal Advances With WBD Trading at 12% Discount — Arbitrage Setup
Paramount refined debt financing on April 9 for its $31/share WBD takeover, advancing a $110B deal with $6B synergies. WBD trades at a 12% discount amid regulatory risks, backed by strong EBITDA growth and streaming scale. Bullish: Arbitrage opportunity with deleveraging path ahead.
Research · Apr 13, 2026
WBD-Paramount Merger: Glass Lewis Backs $31/Share Deal — Should You Accumulate Now?
Glass Lewis's April 10 recommendation for WBD shareholders to approve the Paramount merger boosts deal odds, highlighting $110B EV synergies and $31/share premium. WBD's improving FCF and DTC growth underpin the bullish case, though regulatory nods remain key. Accumulate WBD ahead of the vote for takeover pop.
Research · Apr 9, 2026
WBD Acquisition: $24B Gulf Funding Backs $31/Share Deal — Is WBD a Buy Before Close?
Paramount Skydance's $24B Gulf commitments advance the $110B WBD acquisition at $31/share, amid WBD's FY25 profitability turnaround and 150M sub streaming goal. Shares trade at a discount to offer, signaling buy opportunity ahead of Q3 2026 close.
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