According to @garyblack00, citing the New York Post, PSKY is likely to raise its offer for WBD by 10% to $33 per share, creating a higher reference price for merger-arbitrage trading levels (New York Post). The New York Post report also notes WBD would owe a $2.8 billion breakup fee to NFLX if it ends their merger talks and references prior terms of a $30 per share cash bid from PSKY and a $27.75 per share cash-and-stock proposal from NFLX (New York Post; @garyblack00).

According to Gary Black, WBD rose 4.4% to $29.50 and is likely to move higher as PSKY raises its bid above the prior $30 per share cash offer, source: Gary Black on X, Dec 10, 2025. He reports NFLX submitted a $27.75 per share proposal composed of $23.25 cash and $4.50 stock, deemed superior by WBD’s Board because it excludes the global network business slated for a spin-off that NFLX values at $3 per share, source: Gary Black on X, Dec 10, 2025. He adds that PSKY’s $30 per share cash bid covers the entire company including the global network business, source: Gary Black on X, Dec 10, 2025. He also notes the NFLX route faces regulatory headwinds given approximately 36% industry concentration for a combined NFLX/Paramount streaming business, source: Gary Black on X, Dec 10, 2025. No direct cryptocurrency market impact was cited, source: Gary Black on X, Dec 10, 2025.

According to @CNBC, Morning Squawk flags three premarket catalysts: Paramount’s hostile bid for Warner Bros. Discovery, Meta’s AI course correction, and McDonald’s value crackdown, setting the tone for event-driven trading before the open; source: CNBC Morning Squawk tweet on Dec 9, 2025. For merger-arbitrage and media sector flows, traders can use the CNBC item to focus on Paramount PARA and Warner Bros. Discovery WBD for spread volatility, news-driven halts, and communications services breadth via XLC at the open; source: CNBC Morning Squawk tweet on Dec 9, 2025. For AI-linked risk, the CNBC Meta headline supports monitoring META leadership versus AI-exposed peers and gauging sentiment spillover that can influence BTC and ETH during tech-led sessions; source: CNBC Morning Squawk tweet on Dec 9, 2025. For consumer pricing dynamics, the CNBC McDonald’s note guides attention to MCD and quick-service peers for pricing and traffic updates that can drive defensive rotation and indirectly affect crypto risk appetite; source: CNBC Morning Squawk tweet on Dec 9, 2025. Actionables: set alerts on PARA, WBD, META, MCD, track XLC, XLY versus XLP, and watch BTC and ETH correlation with Nasdaq futures around the cash open framed by CNBC’s rundown; source: CNBC Morning Squawk tweet on Dec 9, 2025.

According to @StockMarketNerd, a stock involved in a bidding war sold off on headlines suggesting the buyer would be allowed to acquire it and rallied on opposing headlines, indicating an inverse reaction pattern. Source: @StockMarketNerd on X, Dec 8, 2025. This highlights acute headline risk and path dependency during M&A processes, implying elevated whipsaw risk for merger-arbitrage and event-driven strategies near deal updates. Source: @StockMarketNerd on X, Dec 8, 2025. No ticker or crypto linkage is specified in the post, so no direct read-through to digital asset markets is established. Source: @StockMarketNerd on X, Dec 8, 2025.

According to @KobeissiLetter, Paramount launched a hostile takeover bid for Warner Brothers at $30 per share just days after Netflix had reportedly won the bidding war, setting a clear headline offer level for price discovery, source: @KobeissiLetter. According to @KobeissiLetter, Paramount stated the Netflix transaction provides Warner Brothers shareholders with inferior and uncertain value, indicating a contested outcome relative to the prior result, source: @KobeissiLetter. According to @KobeissiLetter, no additional terms (cash or stock mix, financing, or timing) were disclosed in the post, and the post does not cite any cryptocurrency market linkage or tokenized equity exposure, source: @KobeissiLetter.

According to @garyblack00, CNBC reported on Dec 5, 2025 that Paramount Skydance (PSKY) is evaluating a higher all-cash offer for Warner Bros. Discovery (WBD) after its prior $30 per-share bid, which included a $5 billion breakup fee to address regulatory risk (source: CNBC via @garyblack00 on X). According to CNBC, Paramount alleges Warner Bros. did not properly consider the $30 cash offer and is weighing a direct appeal to WBD shareholders with an improved bid potentially above $30 (source: CNBC). According to CNBC, WBD shares rose about 3% to $25.37 after the report, implying roughly 18% upside to $30 and about 26% to a hypothetical $32 based on CNBC’s cited price (source: CNBC). According to @garyblack00, if PSKY lifts the bid to $32 all cash, both WBD (cited at $25.75) and Netflix (NFLX, cited at $99.70) could move higher as investors discount lower odds of NFLX winning (source: @garyblack00 on X). According to CNBC, the potential move to go directly to shareholders represents a near-term corporate action catalyst that merger-arbitrage desks can trade against the reported price levels and offer terms (source: CNBC). According to CNBC, the report contains no crypto-related disclosures for PSKY, WBD, or NFLX, indicating no direct cryptocurrency linkage in this event setup (source: CNBC).

According to @StockMKTNewz, CNBC reports Netflix has reached a cash-and-stock deal to acquire parts of Warner Bros. Discovery, valuing WBD at 27.75 dollars per share and including the film studio and HBO Max. Source: @StockMKTNewz; CNBC. For trading, 27.75 dollars is the provisional takeout reference; monitor WBD’s spot price versus 27.75 to gauge the merger-arbitrage spread and implied completion risk. Source: @StockMKTNewz; U.S. SEC Investor.gov guidance on M&A risks. Watch NFLX for deal-adjusted volatility and potential Nasdaq 100 spillover that can sway broader tech risk tone. Source: Nasdaq. Crypto angle: equity risk-on or risk-off from large-cap tech M&A can feed into BTC and ETH as crypto–stock correlations have risen since 2020. Source: International Monetary Fund. Traders should look for official press releases and Form 8-K filings from the companies to confirm a material definitive agreement before sizing positions. Source: U.S. SEC Form 8-K rules.

According to @VanessaGrellet_, the key capital-markets shift is the rise of Digital Asset Treasury (DAT) companies—public vehicles holding BTC, ETH, SOL and ecosystem tokens at scale, source: @VanessaGrellet_ on X. According to @VanessaGrellet_, the "Merger Playbook" focuses on converting discounts in these public holdings into alpha through M&A-driven strategies, signaling event-driven setups for traders tracking DAT discounts and deal catalysts, source: @VanessaGrellet_ on X.

According to @business, Teck Resources said third-quarter profit rose 19% while Anglo American has agreed to buy the Canadian miner, putting deal-spread dynamics in focus for equity traders. source: Bloomberg https://www.bloomberg.com/news/articles/2025-10-22/anglo-target-teck-says-profits-increase-19-in-third-quarter Teck is a diversified producer of copper, zinc, and steelmaking coal, so stronger profitability may influence sentiment across base-metal miners and related commodity equities. source: Teck corporate profile https://www.teck.com Merger-arbitrage strategies typically monitor target and acquirer price convergence after earnings during pending deals, which can shift spreads and hedge ratios. source: Investopedia https://www.investopedia.com/terms/m/mergerarbitrage.asp For crypto market participants, shifts in broader risk appetite from equity and commodity moves can spill over to digital assets, with crypto-stock correlations having strengthened in recent years. source: IMF https://blogs.imf.org/2022/01/11/crypto-prices-move-more-in-sync-with-stocks-posing-new-risks

According to @business, TrueCar agreed to be taken private in an all-cash deal valued at about $227 million, source: Bloomberg (@business). The announcement signals a shake-up in the online vehicle marketplace during a volatile period for the automotive industry, source: Bloomberg (@business). The post did not disclose per-share consideration, expected closing timeline, or approval conditions, limiting immediate merger-arbitrage pricing analysis, source: Bloomberg (@business). The announcement contained no references to cryptocurrencies or blockchain, and the source indicated no direct crypto market impact in this update, source: Bloomberg (@business).

According to @business, Malaysia’s Genting has submitted a takeover bid to privatize its Malaysian unit, based on a stock exchange filing. According to the stock exchange filing cited by @business, the bid initiates a formal go-private process that will be detailed in official disclosures, which traders can monitor for offer terms, conditions, and timeline.

According to @ReutersBiz, HSBC has proposed to privatise Hang Seng Bank in a transaction valued at USD 37.36 billion. According to CFA Institute, privatisation announcements often create merger-arbitrage spreads between a target’s trading price and the implied offer value that reflect deal risk and timeline. According to HKEX, Hang Seng Bank (0011.HK) and HSBC Holdings (0005.HK) are listed in Hong Kong, allowing direct trading access to both names during local market hours. According to the Hong Kong SFC’s Takeovers and Mergers Code, privatisations in Hong Kong are subject to shareholder and regulatory approvals that define closing conditions, timing, and arbitrage carry. According to HKEX, Hong Kong also lists spot Bitcoin and Ether ETFs, enabling traders to observe equity and crypto ETF (BTC, ETH) flows within the same session for cross-asset liquidity monitoring. According to @ReutersBiz, the report does not mention cryptocurrencies, so no direct crypto-market impact was stated.

According to @CNBC, multiple large mergers were announced in banking and technology on Merger Monday, signaling a potential wave of deal activity that could drive price action in targets, acquirers, and sector benchmarks, source: @CNBC. According to @CNBC, the report focuses on how investors can position for the theme, highlighting trading considerations around deal announcements and the broader M&A pipeline, source: @CNBC. According to @CNBC, the coverage centers on equity markets and does not include cryptocurrency market implications, source: @CNBC.