Shareholders elect directors at annual meeting, usually held in the spring.
Privately and publicly, many insist that whats leaked out so far is definitely not fair and promise litigation.
Common shareholders would not get a buyout premium.
Shari Redstone and David EllisonGetty Images
The common stock is at about $11, down from a year-high of $24.
Specifically, Paramount would reportedly buy Skydance for $5 billion in an all-stock deal.
Issuing new shares dilutes the stakes of current shareholders, another reason they are unhappy.
They say $5 billion is a big valuation for Skydance.
At least three funds have publicly shared angry letters sent to Paramount and its board.
This violates the law as well as your fiduciary duty to shareholders.
As reported, this deal focuses on monetizing Shari Redstones shareholding for cash at a significant premium.
The board hasnt engaged with the private equity giant.
Shareholders are again accusing her of skirting legalities this time for a big payday.
Before they have made anything happen, Katz tells Deadline.
If companies are public, the board has to answer those questions and understand they are under the spotlight.
And thats why you have directors resigning …
I think at a minimum they are feeling the pressure that they just cant rubber stamp things.
Most of the board is close to Redstone, says another fund invested in Paramount.
Its Sharis board, and so anybody defecting is meaningful.
