Deals
CBS Is Planning Below-Market Bid for Viacom in Coming Days
- Proposal envisions CBS’s CEO Moonves leading combined company
- Viacom shares have fallen after initial rise, CBS is down more
CBS Said to Make Lowball Offer for Viacom
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CBS Corp. will offer less than the current market value of Viacom Inc. in its opening bid for the owner of MTV and Nickelodeon, according to a person with knowledge of the matter, showing how far apart the companies are as they explore recombining.
CBS will propose that its chief executive officer, Leslie Moonves, run the merged company for at least two years, said the person, who asked not to be identified discussing private negotiations. The initial offer will arrive in the coming days, Bloomberg reported last week.