CBS Submits Initial Bid for Viacom at Price Below Market Value
CBS Corp. has made an offer to acquire Viacom Inc., and the bid is contingent on its management team being at the helm of the merged entity, according to people familiar with the matter.
The all-stock offer is below Viacom’s current market valuation of $12.5 billion, the people said. A special committee of CBS board members tasked with handling negotiations presented the offer to a special committee of Viacom’s board in recent days.
Source link: https://www.wsj.com/articles/cbs-submits-initial-bid-for-viacom-at-price-below-market-value-1522786327?mod=pls_whats_news_us_business_f