Paramount Global (NASDAQ:PARA) stock is a hot topic among traders on Thursday following reports that it could go private in a massive deal.
According to these reports, Paramount Global has received an $11 billion bid from private equity firm Apollo Global Management (NYSE:APO). That’s a hefty premium compared to its market capitalization of $8.6 billion.
It’s worth mentioning that Paramount Global has reportedly received other offers from firms seeking to take it private. Any offer would likely have to please the Redstone family, which currently controls Paramount Global through its National Amusements parent company.
What This Means for PARA Stock
Investors are excited about the prospect of Paramount Global going private. Any deal could result in a heavy payout for holders of the company’s shares. This would also see PARA stock no longer trade on public markets.
PARA stock is up slightly during pre-market trading on Thursday morning. This comes alongside some 337,000 shares of the stock changing hands. That’s still well below its daily average trading volume of about 17.2 million shares.
It’s also worth mentioning that PARA shares were down 13.1% year-to-date (YTD) when markets closed yesterday. The stock also got an 11.8% boost yesterday when the reports first started showing up.
There are more stock market stories that traders are going to want to read about down below!
We have all of the hottest stock market news that investors need to know about on Thursday! Among that is what’s happening with shares of Five Below (NASDAQ:FIVE), Movella (NASDAQ:MVLA) and Lufax (NYSE:LU) stock this morning. You can catch up on all of these stories by checking out the following links!
More Thursday Stock Market News
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
