Warner Bros. acquisition is at a standstill: the market is optimistic about Netflix, but Paramount refuses to raise the price and extends the acquisition deadline.

According to reports, Paramount Sky (PSKY.US) plans to extend the deadline for its hostile takeover offer for Warner Bros. Discovery (WBD.US), but will not increase the offer price of $30 per share. Paramount is reportedly extending the original deadline for the tender offer, which was set to expire on Wednesday, to give Warner Bros. Discovery shareholders more time to accept the offer. It is currently unclear how long this extension will last. Earlier, Netflix (NFLX.US) disclosed an updated acquisition proposal on Tuesday, intending to acquire the core assets of Warner Bros. Discovery in an all-cash transaction at $27.75 per share, also covering the value inherent in its planned split of the Discovery Global business. Under the initial agreement between the two parties, Warner Bros. shareholders were set to receive $23.25 in cash and $4.50 in Netflix common stock per share, with a provision that if Netflix's stock price falls below $97.91, an adjustment mechanism will be triggered. Since officially launching the takeover bid in October last year, Netflix's stock price has dropped by approximately one-fourth. Market forecasts indicate that investors currently favor Netflix's prospects in this takeover competition. Data from Kalshi suggests that the market implied probability of Netflix emerging victorious is 69%, while Paramount's chances of success are only 17%.