BRIEF-Ancora Opposes Proposed WBD-Netflix Merger after disclosing $200 million stake in WBD
Netflix, Inc. NFLX | 107.71 | +1.35% |
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Warner Bros Discovery WBD | 27.20 | -0.62% |
Feb 11 (Reuters) - Ancora Holdings Group:
ANCORA RELEASES PRESENTATION REGARDING ITS STRONG OPPOSITION TO CURRENTLY PROPOSED WBD-NETFLIX MERGER
ANCORA: URGES WBD BOARD TO DETERMINE THAT PARAMOUNT'S REVISED OFFER COULD REASONABLY BE EXPECTED TO RESULT IN A "SUPERIOR PROPOSAL"
ANCORA: CONTENDS NETFLIX PROPOSAL FOR WBD INCLUDES INFERIOR AND UNCERTAIN CASH CONSIDERATION
ANCORA: MAKES CLEAR PARAMOUNT OFFER INCLUDES SIGNIFICANTLY MORE CASH, BACKING OF PROVEN ELLISON TRUST AND A VIABLE PATH TO REGULATORY APPROVAL
ANCORA: APPROXIMATELY $200 MILLION ECONOMIC INTEREST IN WARNER BROS. DISCOVERY
ANCORA: WBD’S BOARD SHOULD DETERMINE PARAMOUNT’S AMENDED OFFER COULD REASONABLY BE EXPECTED TO RESULT IN “SUPERIOR PROPOSAL"
