Part 4/11:
Paramount's approach was seen as opportunistic, with its proposal containing numerous loopholes and potential caveats. Although Paramount claimed it intended to pay a significant premium—$30 per share—permitting the company's takeover, Warner's board believed the deal was too risky and not in shareholders' best interests. Warner's management also accused Paramount of misleading shareholders and questioned the solidity of the Ellison family's backing, despite assurances to the contrary.