Paramount’s Times Square office.
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Paramount Global’s “go-shop” window, or the period in which the company can evaluate any other takeover offers, ends Aug. 21, according to securities filing disclosed Thursday.
The go-shop period allows a 45-day window for the special committee of Paramount’s Board of Directors to evaluate or seek out better offers. However, if Paramount does not choose to go with the Skydance offer, it will be forced to pay a $400 million breakup fee.
If a serious bidder emerges, the go-shop period can be extended to Sept. 5, per the filing.
This comes after Shari Redstone agreed July 7 to sell her majority stake in Paramount Global to a consortium led by Skydance, the production company helmed by David Ellison, and Gerry Cardinale’s RedBird Capital.
If the deal closes (they…