Oracle co-founder Larry Ellison has agreed to provide an “irrevocable personal guarantee” of $40.4 billion of the equity financing for Paramount’s $108.4 billion bid for Warner Bros Discovery and any damages claims against Paramount.
Ellison has also agreed not to revoke the family trust or “adversely transfer” its assets while a transaction is pending. Additionally, Paramount will publish records to confirm the that the Ellison family trust owns approximately 1.16 billion shares of Oracle common stock, as well as all of its material liabilities.
It also raised its breakup fee from $5 billion to $5.8 billion in the event the deal doesn’t secure regulatory approval and offered improved flexibility for Wbd on “debt refinancing transactions,…
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‘ Some details of this article were extracted from the following source www.imdb.com ’
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