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CBS And Viacom Stocks Both Sink As Merger Deal Nears Close – Update

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UPDATED with closing stock prices

’s dropped 5% Monday as investors reacted to word that the companies were near the finish line in their merger negotiations.

Sources familiar with the talks say a deal is likely to be announced this week, though they cautioned that it would still be possible for negotiations to end without a final resolution. This is the third round of formal merger discussions since 2016.Viacom, whose stock closed at $28.53 Monday, has a market value of about $12 billion. CBS, which finished the day at $47.91, has a value in the $18 billion range.

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