Warner Bros. (WBD) urged its shareholders to reject Paramount Skydance’s (PSKY) hostile takeover bid, arguing Paramount was inadequate compared to Netflix (NFLX), Lauren Thomas and Joe Flint of The Wall Street Journal reports. Warner has lingering concerns about the financing and wants Larry Ellison to give a stronger personal guarantee he will fully commit to the $77.9B bid. Warner argues it can’t know if Paramount’s all-cash bid will close unless the Ellisons signal a deeper commitment to the transaction.
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