Paramount’s Warner Bros. Deal Has Everything But a Closing – Merger Arbitrage Mondays

Warner Bros. Discovery, Inc. (WBD): $28.77

Market Cap: $72.13 B

Deal Value: $110 B

The last time we wrote about the Paramount Skydance (PSKY) – Warner Bros. Discovery merger was when Paramount successfully swooped in and took Warner Bros. from Netflix’s (NFLX) hands. That was at the end of February 2026, and since then, the developments in this odyssey have had more twists and turns than a Christopher Nolan movie.

The HSR Clock

Since Paramount had already started its efforts to secure this merger even before it was official, it had one thing in hand: the statutory expiration of the waiting period under the HSR Act.

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