(Reuters) – Private equity firm Apollo Global Management has offered $11 billion for Paramount Global’s Hollywood studio, the Wall Street Journal reported on Wednesday.
Paramount’s shares rose 4% following the news.
Paramount has been restructuring some of its businesses and has invited takeover interest, according to previous media reports and filings.
Apollo had also reached out to a special committee formed by Paramount about a possible takeover or asset purchases, Axios news had reported earlier in March.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Krishna Chandra Eluri)
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