Paramount Skydance‘s $111 billion agreement to merge with Warner Bros. Discovery is not quite a done deal, but the company is preparing for the deal to close within the next few weeks.
\n\nIn an SEC filing Friday, Paramount said its board on Sept. 25 “determined to voluntarily withdraw the listing of its Class B common stock” from the Nasdaq Global Select Market, under the ticker “PSKY,” and transfer the listing to the New York Stock Exchange. The company expects that the listing and trading of the Class B Common Stock on Nasdaq will end at market close on or about Oct. 5, and that trading will begin on the NYSE at market open on or about Oct. 6.
\n\nThe board set a record date of the close of business on Oct. 5 for Paramount’s previously announced distribution of warrants giving those holders the option to purchase shares of Class B Common Stock on the NYSE. Those shares would begin trading on Oct. 13.
\n\nHowever, Paramount noted, “the distribution of the Warrants is contingent on the closing of the previously announced acquisition by the Company of Warner Bros. Discovery” — and that currently, the WBD merger is “subject to further closing…
Original source: https://variety.com/