So, for anyone who thought that entertainment giant Paramount’s (PARA) deal with Skydance was a done affair, that may not be the case after all. One of the former bidders is coming back, and this time, with allegations that Paramount did its own shareholders wrong by passing on their offer. Said shareholders took the news quite well, however, and sent shares up fractionally in the closing minutes of Monday’s trading.
The offer from Project Rise Partners (PRP) was substantially superior to the Skydance deal, including what PRP noted was “…more cash per share to both Class A and Class B shareholders in Paramount,” noted an Axios report. PRP is made up of two different organizations: Malka Investment Trust and Rise Beyond LLC, which derive a lot of their funding from wealthy individuals working in finance, telecom, and media, among other fields.
The lawyers representing PRP note that PRP’s offer should have been…
