According to Bloomberg, Viacom (VIAB) approached by CBS Corporation (CBS)

  • January 18, 2018

POTENTIAL DEAL DETAILS

StockViacom, Inc.SymbolVIAB
Date Announced01/12/2018Source Bloomberg
TypeNews Report

Shari Redstone, whose family controls Viacom Inc. (VIAB) and CBS Corp. (CBS), remains interested in merging the two media companies after a previous attempt faltered in 2016, according to a person familiar with the matter.

Update(s):

January 31, 2018: CBS Corp’s (CBS) board is expected to discuss a merger with Viacom Inc (VIAB) on Thursday, sources told Reuters, a move that could begin a formal process to reunite the companies split by controlling shareholder Sumner Redstone more than a decade ago.

February 01, 2018: CBS Corporation (CBS) announced today that its board of directors has established a special committee of independent directors to evaluate a potential combination with Viacom Inc. (VIAB).

March 30, 2018:  CBS Corp. (CBS) is preparing to make an initial merger proposal to Viacom Inc. (VIAB) within days, people with knowledge of the matter said, setting the stage for negotiations that could bring the media companies back together 12 years after they were split up.

April 03, 2018: CBS Corp (CBS) plans to make an all-stock offer for Viacom Inc (VIAB) that values the U.S. media company below its current market valuation, people familiar with the matter said on Monday, indicating that tough negotiations lie ahead.

April 09, 2018: Viacom Inc  (VIAB)  has asked CBS Corp (CBS) to sweeten its merger bid by about $2.8 billion or almost a quarter more than CBS’s offer, people familiar with the matter said, indicating the wide gap in the U.S. media firms’ price expectations.

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