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Netflix Inc. (NFLX) and Warner Bros. Discovery Inc. (WBD) on Tuesday announced that they have amended their agreement to acquire WBD into an all-cash deal.
In a joint announcement, the two companies said that the transaction is valued at $27.75 per share, unchanged from the previous offer. However, the previous agreement offered WBD shareholders $23.25 in cash, along with $4.5 in Netflix common stock for each share of WBD common stock.
The new agreement offers WBD shareholders $27.75 per share.
Netflix shares were up 1% at the time of writing, while Warner Bros. Discovery shares were down 0.26%. Retail sentiment on Stocktwits around Netflix trended in the ‘extremely bullish’ territory, while users felt ‘extremely bearish’ about WBD.
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