(Bloomberg) — Film producer David Ellison’s offer for Paramount Global includes an option for nonvoting shareholders to cash out a portion of their stock for about $15 a share, according to a person familiar with the matter.
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The offer, a roughly 26% premium to Friday’s closing price, is for only about 40% of the shares, according to the person, who asked not to be identified because the discussions aren’t public. The rest of the stock will roll over into the new company.
Spokespeople for Paramount and Ellison’s Skydance Media declined to comment. The Wall Street Journal and CNBC reported earlier on some terms of the deal.
Paramount’s shares rose 7% to $12.74 in New York Monday morning.
The cash payout is…
