# Trump’s son-in-law withdraws backing for Paramount’s hostile bid for Warner Bros

By Dan Coatsworth — 2025-12-17

Dan Coatsworth, head of markets at AJ Bell, said: “The takeover battle for Warner Bros is showing no signs of reaching a resolution.

“Reports suggest the target will reject Paramount’s latest bid amid concerns about how it would be financed.

“Paramount has offered $30 cash per share versus Netflix’s deal which is structured on a per share basis as $23.25 in cash and $4.50 in stock.

“Importantly, Paramount is offering to buy the whole company, whereas Netflix only wants the studio business, library assets, streaming operations and premium programming of HBO.

“That means this is not a simple situation of highest price wins as the bids are different in structure.

“Traditionally in a takeover situation, a target’s board of directors would only recommend a bid if it were in the best interests of investors.

“Any doubts over the stability of the financing agreement, if there are political issues to consider or if regulators might have any objections, can give the board reason to think twice.

“It’s possible that the Warner Bros drama will carry on into the new year, and markets are going to be munching on the popcorn waiting to see how it ends.”

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