Bronfman raises offer for National Amusements, Paramount stake to $6 billion, WSJ By Reuters reports

(Reuters) – Veteran media executive Edgar Bronfman Jr has sweetened his offer to $6 billion for National Amusements and a minority stake in Paramount Global, people familiar with the matter told the Wall Street Journal on Wednesday.

He previously offered $4.3 billion, according to Reuters sources.

Bronfman’s new offer includes $1.7 billion in a tender offer that would give non-voting Paramount shareholders the option to cash out at a premium of $16 a share, the report said.

Paramount shares rose 1.9 percent in extended trading.