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CBS plans all-stock bid for Viacom below current valuation - sources

That offer is contingent on Viacom accepting all other aspects of CBS's bid, the sources added


CBS Corp plans to make an all-stock offer for Viacom Inc that values the U.S. media company below its current market valuation, people familiar with the matter said on Monday, indicating that tough negotiations lie ahead. It is unusual for deal negotiations to start with the acquirer valuing its target at a discount. The fact that CBS's first bid for Viacom infers such a valuation reflects how CBS views its position in the U.S. media landscape as superior to Viacom's. As part of its initial offer to be submitted in the next few days, CBS Chief Executive Leslie Moonves ...

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First Published: Tue, April 03 2018. 21:08 IST