Paramount Skydance Corp. (PSKY) shares rose 6.40%, trading at $10.98, up $0.66, after Warner Bros. Discovery said it will reopen takeover discussions with the company.
The move follows a seven day waiver granted by Netflix, allowing Warner Bros. Discovery to engage with Paramount Skydance and evaluate a potential revised offer.
The development comes amid an ongoing bidding battle, with Warner Bros. Discovery currently maintaining a separate merger agreement with Netflix, which its board continues to support.
On the day of the move, PSKY traded between $10.62 and $11.32. Trading volume was 5,674,209 shares compared with an average of 8,823,956 shares.
Paramount Skydance's 52 week range is $9.95 to $20.86.
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