Netflix is ​​reviewing the Warner Bros. show. For an all cash offer

Netflix has updated the acquisition terms for its Warner Bros. bid. Its Discovery All cash dealReplaces the initial $82.7 billion cash and stock agreement. The changes are designed to speed up Selling WBD studios and streaming companiesafter repeated attempts by rival Paramount to pressure shareholders to accept its all-cash offer of $108 billion.

“WBD’s Board of Directors continues to unanimously support and recommend our transaction, and we are confident it will deliver the best outcomes for shareholders, consumers, creators and the broader entertainment community,” said Ted Sarandos, Netflix co-CEO. “Our revised cash agreement will enable an accelerated timeline for shareholder votes and provide greater financial certainty at $27.75 per share in cash, plus value from the planned spin-off of Discovery Global.”

The revised transaction will be financed through a combination of available cash, available credit and other financing, and has been unanimously approved by the Board of Directors of Netflix and WBD. Closing of the overall acquisition transaction remains subject to WBD regulatory and shareholder approvals.

Under conditions Original transaction agreement Netflix announced on December 5 that each WBD shareholder is set to receive $23.25 in cash and $4.50 in Netflix common stock, with conditions applying if Netflix’s stock price falls below $97.91. Netflix shares fell below that mark by December 8th, with Paramount launching what it billed as its own A ‘superior’ all-cash hostile takeover bid On the same day, it said the agreement with Netflix leaves WBD shareholders dependent on a “complex and volatile mix of stock and cash.”

Rumors of the changes have been reported by Bloomberg on January 13, citing people familiar with the review discussions. WBD has already He rejected Paramount’s takeover effortsand it is now He is being sued By the company run by David Ellison to reveal more details about the Netflix merger deal. By reviewing the all-cash deal, Netflix is ​​trying to speed up the acquisition process and avoid further opposition, whether it’s from rival bidders or the regulatory processes it will need to clarify to finalize the merger.