Paramount’s Warner Deal Settles Early, But Court Approval Remains – Merger Arbitrage Mondays

Warner Bros. Discovery, Inc. (WBD): $30.86

Market Cap: $77.37 B

Deal Value: $110 B

When we’d written about the Paramount Skydance (PSKY) – Warner Bros. Discovery merger a month ago, we’d said that a settlement with the 12 states and the Writers Guild of America (WGA), which had sued to block the merger, “looked imminent.” But honestly, we had not expected a settlement so soon.

At the beginning of this month, under the orders of the District Judge Araceli Martínez-Olguín, the cases filed by the State of California and the WGA were sent to Magistrate Judge Thomas Hixson’s office to schedule settlement meetings.

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