Warner Bros. to Oracle’s Larry Ellison on Paramount offer: Your trust is not enough, we want… – The Times of India

Warner Brothers Discovery (WBD) has defended itself against Paramount Skydance’s $77.9 billion hostile takeover bid, telling Oracle founder Larry Ellison that his family’s trust is now sufficient security. As the Wall Street Journal reports, the company has asked shareholders to reject Ellison’s proposal. It cited financial concerns and asked Ellison himself to sign a stronger personal guarantee that the deal would go through. Warner said the Ellison family’s use of a revocable trust to secure the equity portion of the offering left “gaps, loopholes and limitations.” The company also stressed that it had no way of knowing whether Paramount’s cash offer would close unless Ellison himself made a deeper commitment. “If you want to buy our company, sign on the dotted line yourself,” was Warner’s message to Ellison.

Warner Brothers deal: The competing offers

* To acquire WBD, Paramount raised the large amount of $77.9 billion. David Ellison’s offer exceeds Netflix’s $72 price…