But Paramount has reportedly been eyeing WBD for years and followed December's merger announcement with an aggressive hostile takeover bid. On Tuesday, in addition to raising its offer to buy all of WBD, Paramount also agreed to pay a $7 billion regulatory termination fee should a Paramount-WBD merger fail to close due to antitrust regulation, as well as a $0.25 per share ticking fee for every quarter that the deal doesn’t close, starting on September 30.
During a Commons Westminster Hall debate on Wednesday, several Labour MPs joined calls for an urgent shake-up of the “unfair” system, with one describing it as “an absolute dog’s dinner” and another likening the terms to something that a “loan shark” would offer.
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