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Sony Corp. (NYSE:SONY) and Apollo Global (NYSE:APO) agreed to sign non-disclosure agreements so they can access Paramount Global’s (NASDAQ:PARA) books.
Sony (SONY) and Apollo are evaluating a variety of ways to purchase Paramount’s assets, but are moving away from their plan to make an all-cash, $26 billion offer for Paramount, according to a New York Times report late Friday, which cited two people familiar with the matter.
The NYT updated appears to confirm reporting by CNBC’s David Faber on Tuesday that Sony (SONY) may be rethinking its takeover bid. Sony may decide not to make a bid for the entire company or other options, Faber said, citing people close to the matter.
Sony’s recent stock price fall may have given Sony “some pause,” according to Faber. Faber said he expects that there will be some resolution to the auction over the next couple of weeks.
