BRIEF-Ancora Opposes Proposed WBD-Netflix Merger after disclosing $200 million stake in WBD

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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"


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