have agreed to a price for their long-awaited merger and plan to formalize the deal with an announcement after the close of trading today, sources tell Deadline.
The “exchange ratio” — how many shares of each company will be traded in the all-stock translation — had been a major consideration in negotiations over recent days. The boards of each company have agreed to a ratio of 0.59625 shares of CBS stock for each full share of Viacom. People familiar with the talks confirmed the figure, which was initially reported by Bloomberg and Reuters.
The sources cautioned that final issues could delay or derail an agreement. Barring any complications, a formal announcement and conference call with investors would be held Tuesday afternoon. CBS’ stock is up nearly 3% in trading today while Viacom was more than 1% as part of a broader market upswing. The stocks of both companies had declined Monday.The reunification plan comes after three years of start-and-stop negotiations. The companies operated under the same corporate roof from 2000-2006., head of National Amusements, the controlling shareholder of CBS and Viacom.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CBS and Viacom Boards Haggle Over Price as Merger Talks AccelerateBoard members of CBS and Viacom worked most of the weekend in an effort to reach a long-awaited merger agreement for the two halves of the Redstone media empire. Sources close to the situation said…
Source: Variety - 🏆 108. / 63 Read more »
Jim Gianopulos Inks Multi-Year Deal As Paramount Boss Prior To CBS-Viacom MergerBREAKING: Ahead of the CBS-Viacom merger, Viacom has re-upped Paramount Pictures Chairman and CEO Jim Gianopulos to a new, multi-year contract. In addition, Paramount’s current production president…
Source: DEADLINE - 🏆 109. / 63 Read more »
Jim Gianopulos Signs New Multi-Year Deal as Paramount Chief Ahead of CBS-Viacom MergerViacom has signed Paramount Pictures Chairman and CEO Jim Gianopulos to a new, multi-year contract, individuals familiar with the talks told Variety. The development comes as Viacom is expected to …
Source: Variety - 🏆 108. / 63 Read more »
CBS and Viacom Shares Drop as Merger Talks Drag OnShares of CBS and Viacom were dented in trading Monday as investors awaited news of a merger agreement between the two media companies controlled by the Redstone family. Viacom shares fell 5% to cl…
Source: Variety - 🏆 108. / 63 Read more »
CBS And Viacom Stocks Both Sink As Merger Deal Nears Close – UpdateUPDATED with closing stock prices. Shares of CBS slipped 2% after early gains and Viacom’s dropped 5% Monday as investors reacted to word that the companies were near the finish line in their…
Source: DEADLINE - 🏆 109. / 63 Read more »
CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for mergerThe negotiations for the CBS and Viacom merger could finish as soon as Monday, sources say. Government should not allow merger. Mergers are bad for America. Stellate23 Too many mergers and buyouts. The consumer is being squeezed from every angle. Competition is healthy for the economy. Greed and consolidation of power are not. 😳 Such horseshit, if that’s the agreement then the Viacom shareholder is getting screwed.
Source: CNBC - 🏆 12. / 72 Read more »