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Stock impact report

Sony Shares Fall as Offer for Paramount Spurs Financing Concerns [BNN Bloomberg (Canada)]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: BNN Bloomberg
The stock dropped as much as 4.2% in Tokyo. The Japanese electronics company and Apollo Global Management Inc. made a $26 billion proposal to buy Paramount, which is weighing the offer, people with knowledge of the matter have said. “While it's a joint offer, investors are worried about Sony's finances,” given the deal size is larger than Sony's cash holdings, said Yugo Tsuboi, chief strategist at Daiwa Securities. Once there's more clarity on how the deal will be financed, investors will begin to look at the benefits, he said. Sony holds about ¥1.5 trillion ($9.7 billion) in cash and cash equivalents, according to data compiled by Bloomberg. The Tokyo-based company is considering acquiring a majority stake in the new venture, with Apollo as an investor, the people have said. Sony's shares have dropped more than 5% this year, compared with a 16% gain in the Topix index, amid a global electronics slump. The company in February cut its projections for sales of the PlayStation 5 g Show less Read more
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