Exclusive: Sony/Apollo $26B bid may imply around $20/sh per PARA common share

Data from Matrix Asset Advisors - one of PARA's shareholders - accessed exclusively by Investing.com shows that the smaller premium paid for Shari Redstone's National Amusements Inc. by Sony/Apollo would imply a price of around $20/share for PARA's common stock—a nearly 40% premium over the current share price as of this writing.

"In the Skydance deal, non-voting shares get nothing beyond their diluted stake in Paramount + the Skydance asset bought at an excessively generous value," said David Katz, CIO of Matrix Asset Advisors.

Paramount has 666.48 million shares outstanding, 625.5M common, and 40.7M preferred shares. Assuming the deal closes with today's market pricing, this would imply that PARA shares wouldThese numbers imply a roughly 40% premium over the company's price as of this writing and a nearly 90% premium over the original Skydance offer.by $1-2 billion or even more, which would be very significant for the 90% of the Paramount shareholders who are not Shari Redstone.

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