Sony, Apollo Make $26 Billion All-Cash Offer for Paramount
Sony Pictures and private-equity giant Apollo Global Management have submitted an all-cash $26 billion offer for Paramount Global, marking the second time the private-equity firm has come in with a bid for the entertainment giant.
Apollo and Sony on Wednesday submitted the offer letter, which was signed by Sony Pictures CEO Tony Vinciquerra and Aaron Sobel, a partner at Apollo, according to people familiar with the situation. The offer is a starting point for discussions and is nonbinding.
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