Results of Tender Offer Due Today
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PHILADELPHIA — The results of the competing tender offers for Paramount Communications are to be announced at 9 a.m. EST today.
The stock market bet on Viacom Monday, pushing Paramount and Viacom stock lower and QVC Network’s price higher. The company perceived as the winner in the bidding has seen its stock fall because of the debt and other obligations it would assume.
Paramount shares fell 87.5 cents to $76 on the New York Stock Exchange. Viacom Class B shares fell $1.75 to $29.875 on the American Stock Exchange and QVC stock rose $1.625 to $48.50 on the Nasdaq market.
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