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DreamWorks Soars on SoftBank Speculation - Broadcasting & Cable

DreamWorks Soars on SoftBank Speculation

Reports say SoftBank offers $32/share for animation studio
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DreamWorks Animation stock soared more than 25% on the first trading day since reports first surfaced that the studio was in early talks with Japanese wireless carrier SoftBank about a possible merger.  

According to The Hollywood Reporter, SoftBank is willing to pay as much as $32 per share for the studio, or about $3.4 billion. That represented a 43% premium to DWA shares on Sept. 26, but it is a gap that is closing fast.  

While all sides have remained mum on the reports, DreamWorks’ stock continues to soar. Shares rose as high as  $28.97 each (up $6.61 or 29.6%) in early trading. The stock was priced at $28.17 each (up $5.81 or 26%) in early afternoon trading Monday. 

To read the full story, visit Multichannel.com.

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