WBD Rises on Ellison Backing; Rocket Lab Climbs; Clearwater Rallies
On this episode of Stock Movers:- Shares of Warner Bros. Discovery (WBD) moved higher ahead of the US market open as Paramount Skydance Corp. sweetened its bid for WBD, including offering a personal financial guarantee by Oracle Corp. Chairman Larry Ellison, as it seeks to beat out a rival bid from Netflix Inc. Ellison has agreed to personally guarantee $40.4 billion in equity financing for Paramount’s proposed $108.4 billion offer for Warner Bros., according to a statement Monday. Ellison, whose son David Ellison is chief executive officer of Paramount, agreed not to revoke the Ellison…
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